Albertsons, Kroger merger scrapped after courts halt the deal

Albertsons is giving up on its merger with Kroger a day after it was rejected in two courts and it is suing the grocery chain, saying it didn't do enough to secure regulatory approval for the $24.6 billion agreement.U.S. District Court Judge Adrienne Nelson issued a preliminary injunction blocking the merger Tuesday after holding a three-week hearing in Portland, Oregon.

Then Judge Marshall Ferguson in Seattle issued a permanent injunction barring the merger in Washington after concluding it would lessen competition in the state and violate Washington’s consumer-protection laws.On Wednesday Albertsons said that Kroger failed to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction.Shares of Albertsons rose more than 2% before the market open, while Kroger's stock declined slightly.

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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.
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Court blocks Kroger’s $25 billion acquisition of rival AlbertsonsA U.S. judge blocked the pending $25 billion merger of U.S. grocery chains Kroger and Albertsons on Tuesday, siding with the U.S. Federal Trade Commission in...
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Shoppers relieved as court blocks Kroger-Albertsons merger in Washington stateRight after the blocked Kroger-Albertsons merger in Washington state, KOMO News spoke with shoppers outside the QFC on Seattle's Mercer Street and 5th Avenue.
منبع: komonews - 🏆 272. / 63 ادامه مطلب »