Albertsons and Kroger agree to pause merger amid legal, regulatory challenges

Kroger and Albertsons on Thursday agreed to temporarily pause their proposed $25 billion merger while regulators pursue legal challenges in an effort to block the deal. The two companies agreed to a temporary injunction that puts the merger on hold while a lawsuit filed by Colorado plays out. The move negates the need for a preliminary injunction hearing that had been scheduled to occur next month. "The trial is set to begin on Sept.

Kroger CEO Rodney McMullen said in April that the plan is designed to "ensure no stores will close as a result of the merger and that all frontline associates will remain employed, all existing collective bargaining agreements will continue, and associates will continue to receive industry-leading health care and pension benefits alongside bargained-for wages.

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منبع: latimes - 🏆 11. / 82 ادامه مطلب »