Federal judge blocks merger of Kroger and Albertsons, citing threat to competition

  • 📰 adndotcom
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The temporary injunction, which halts the merger while a Federal Trade Commission proceeding plays out, is expected to effectively torpedo that deal.

By Kristine de Leon, oregonlive.comThe Carrs location at 4000 West Dimond Boulevard in Anchorage is one of the locations included in the planned divestiture as part of the proposed merger of Kroger and Albertsons.

Boise-based Albertsons is Kroger’s largest rival after Walmart. Albertsons owns the grocery chain that bears its name as well as Safeway, Vons, Randalls and several other chains. The grocers said their merger would help the combined company better compete against brick-and-mortar and online competitors.

A preliminary injunction temporarily blocks the merger until the federal agency can resolve its administrative proceeding against what it says would be the largest supermarket consolidation in U.S. history. The FTC says its in-house hearing about the proposed deal would not begin until Dec. 18. The grocers argued that customers have many choices to shop for food, from traditional supermarket stores to club stores to convenience stores and dollar stores. Kroger and Albertsons view any place that takes a portion of a customer’s spending on food as a competitor.

In an effort to ease concerns about a merger’s impact on competition, Kroger and Albertsons said they’ll sell 579 of their stores to New Hampshire-based C&S Wholesale Grocers, a grocery supplier that also runs a small chain of stores in the Northeast. In Oregon, 62 stores would’ve been sold to C&S.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 293. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsPORTLAND, Ore. (AP) — A federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could
Source: Mynorthwest - 🏆 438. / 53 Read more »

Judge blocks Albertsons-Kroger $25 billion supermarket mergerRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
Source: NBCNews - 🏆 10. / 86 Read more »

Court blocks Kroger's $25 billion acquisition of grocery rival AlbertsonsThe FTC argued the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers.
Source: CNBC - 🏆 12. / 72 Read more »