Federal judge blocks Kroger's $25B acquisition of Albertsons

A federal judge on Tuesday blocked the proposed $25 billion merger between Albertsons and Kroger, agreeing with the Federal Trade Commission that the deal would undermine competition in the grocery industry. U.S. District Judge Adrienne Nelson said that the plan put forward by the two companies to reduce grocery prices and divest more than 500 stores failed to address concerns about reduced competition in the sector and the impact it could have on consumers and workers.

The deal would have been the largest merger in the history of the grocery industry. Kroger argued in legal filings that the court rejecting the plan would effectively kill the deal. The judge noted that despite the ruling, the companies could look to address antitrust issues and secure approval to move forward with a reconfigured merger.

spokesperson Douglas Farrar said the ruling "protects competition in the grocery market, which will prevent prices from rising even more." "This statement win makes it clear that strong, reality-based antitrust enforcement delivers real results for consumers, workers, and small businesses," Farrar said. FOX Business reached out to Albertsons and Kroger for comment. GET FOX BUSINESS ON THE GO BY CLICKING HERE Kroger's stock rose 5.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Federal judge temporarily halts Kroger and Albertsons mergerA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal. U.S. District Court Judge Adrienne Nelson issued the ruling Tuesday after holding a three-week hearing in Portland, Oregon.
مصدر: AP - 🏆 728. / 51 اقرأ أكثر »

Federal judge temporarily halts Kroger and Albertsons proposed mergerA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
مصدر: 10News - 🏆 732. / 50 اقرأ أكثر »

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
مصدر: DenverChannel - 🏆 239. / 63 اقرأ أكثر »

Federal judge temporarily halts Kroger, Albertsons proposed mergerA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
مصدر: fox13seattle - 🏆 328. / 59 اقرأ أكثر »

Federal judge temporarily halts proposed Kroger and Albertsons mergerA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
مصدر: wsyx6 - 🏆 444. / 53 اقرأ أكثر »

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
مصدر: wjxt4 - 🏆 246. / 63 اقرأ أكثر »