Albertsons sues Kroger, backs out of $25B merger after courts block the deal

multibillion dollar dealTwo federal judges in Oregon and Washington blocked the merger Tuesday, siding with the Federal Trade Commission, which has opposed the plan, arguing it would eliminate competition and raise prices for American shoppers.

"Rather than fulfill its contractual obligations to ensure that the merger succeeded, Kroger acted in its own financial self-interest, repeatedly providing insufficient divestiture proposals that ignored regulators' concerns," Moriarty claimed in a statement. "Kroger's self-serving conduct, taken at the expense of Albertsons and the agreed transaction, has harmed Albertsons' shareholders, associates and consumers.

Following a three-week hearing in Portland, Oregon, U.S. District Court Judge Adrienne Nelson issued a temporary injunction blocking the merger on Tuesday. Kroger operates 2,800 stores across 35 states, with brands including Ralphs, Smith's and Harris Teeter. Albertsons operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw's.

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