Kroger and Albertsons merger on hold until Denver court rules on lawsuit

The proposed merger between Kroger Co. and Albertsons Cos. is on hold until an antitrust lawsuit from Colorado Attorney General Phil Weiser to permanently block the deal is resolved.from closing until five days after Weiser’s lawsuit is addressed. A two-week trial on the merits of Colorado’s case is set to start on Sept. 30.

“I am pleased that Kroger and Albertsons agreed to halt their plans to merge until the court rules on the state’s lawsuit to permanently block the grocery merger. This is great news for shoppers, workers, farmers, and other suppliers, who can rest assured that this mega-merger will not go into effect during harvest season and while kids are headed back to school,” Weiser said in a statement issued after the ruling.

Weiser sued to block the merger between the parent companies of King Soopers, City Market and Albertsons, the dominant grocery store brands in Colorado, on Valentine’s Day.The two grocers also face a challenge from other states in Oregon in a trial set for Aug. 26. In late February,sued to block the merger and an administrative review is set to start July 31. The federal agency has said the merger would eliminate competition and drive up prices for millions of Americans.

To ease concerns about reduced competition and higher prices for consumers, the companies earlier this month agreed to divest 579 stores and six distribution centers to C&S Wholesale Grocers, based in New Hampshire.“Our members and customers alike are concerned about potential job losses, food and pharmacy deserts, increased food prices, cost to food suppliers, and a lack of competition if the merger goes through.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Kroger and Albertsons merger on hold until Denver court rules on lawsuitDenver judge issued a preliminary injunction Thursday — which all sides agreed to — that prevents the $24.6 billion merger from closing until five days after the lawsuit is addressed.
La source: denverpost - 🏆 13. / 72 Lire la suite »

Kroger-Albertsons merger temporarily halted by Colorado judge until SeptemberÓscar A. Contreras is a Murrow-nominated journalist who has been writing for the E.W. Scripps Company since January 2014.
La source: DenverChannel - 🏆 239. / 63 Lire la suite »

FTC and State AGs Sue to Block Kroger-Albertsons 'Mega Merger'Jake Johnson is a senior editor and staff writer for Common Dreams.
La source: commondreams - 🏆 530. / 51 Lire la suite »

Kroger-Albertsons merger temporarily halted amid lawsuitKroger and Albertsons are the parent companies of King Soopers/City Market and Safeway, the biggest grocery store chains in Colorado.
La source: AKNewsNow - 🏆 460. / 53 Lire la suite »