The Kroger Co. will walk away from the largest acquisition in its history if a federal judge grants a temporary injunction to delay its $24.6 billion purchase of Albertsons Companies Inc.If that happens, Albertsons is likely to cut jobs, close stores and seek a new buyer.Those were two of the big takeaways from opening statements in a three-week hearing that will determine whether the merger violates antitrust rules.U.S.
The FTC argued the deal should be evaluated based on supermarket competition only. The companies said all food sellers should be part of the equation. The FTC said C&S Wholesale Grocers is not equipped to operate the 579 stores the companies have offered to sell. The companies said C&S will be a viable competitor that preserves union jobs.