Proposed merger of Kroger and Albertsons is halted by federal, state judges

The proposed merger between supermarket giants Kroger and Albertsons floundered on Tuesday after judges overseeing two separate cases both halted the merger.

Kroger and Albertsons in 2022 proposed what would be the largest grocery store merger in U.S. history. But the Federal Trade Commission sued earlier this year, asking Nelson to block the $24.6 billion deal until an in-house administrative judge at the FTC could consider the merger’s implications.

The FTC argued that Kroger and Albertsons currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup. A merger would eliminate that competition and raise prices for already struggling consumers, the government said. The FTC also said the merger would hurt workers since Kroger and Albertsons would no longer compete to hire them.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal. U.S.
Fuente: SooToday - 🏆 8. / 85 Leer más »

AngloGold posts massive increase in quarterly earnings; proposed Ghana JV with Gold Fields still on holdFollowing gold miners Gold Fields and AngloGold Ashanti’s announcement last year that they intend to enter into a joint venture (JV) in Ghana, the companies have advised it has not yet received the required approvals by the government despite constructive engagement.
Fuente: MiningWeeklyCA - 🏆 48. / 63 Leer más »