Albertsons-Kroger Merger Blocked Amid Federal Antitrust Scrutiny

The Biden-Harris administration has taken an aggressive stance in scrutinizing proposed mergers and acquisitions in recent years, resulting in several deals being blocked or paused due to regulatory action. The Federal Trade Commission (FTC) and the antitrust division at the Department of Justice (DOJ) are the main regulatory bodies responsible for reviewing mergers and challenging them in court if there are concerns about the competitive impact.

Those two agencies have challenged several prominent mergers in recent years, several of which were blocked by courts or abandoned by the companies involved in 2024. FTC Chair Lina Khan said in a November interview with the Council on Foreign Relations that the increased scrutiny of mergers means that 'potential antitrust risk is part of the conversation on day one,' and added, 'As a law enforcer, I want people to be thinking about whether their deal is going to violate the law or not going to violate the law, and so that's progress.' Here's a look at some of the mergers that were blocked, abandoned or challenged in 2024 amid federal antitrust scrutiny: The FTC and state legal authorities prevailed this month in lawsuits brought against the proposed $25 billion merger between Albertsons and Kroger, which would have been the largest-ever merger in the grocery industry. The two companies expressed disappointment that the courts rejected their proposed merger in the wake of the ruling. Albertsons and Kroger had planned to divest more than 500 stores to C&S Wholesale Grocers to address concerns about the competitive impact on the grocery industry. Albertsons terminated the merger agreement following the rulings. It also filed a lawsuit alleging Kroger breached the merger contract by not divesting some assets, failing to address regulators’ feedback, rejecting stronger divestiture buyers and not cooperating with Albertsons

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Albertsons’ $24.6 billion merger with Kroger blocked by judgeThe FTC argued the proposed tie-up violated US antitrust law and a divestiture wouldn’t help consumers.
Source: mercnews - 🏆 88. / 68 Read more »

$25-billion Kroger-Albertsons merger plan is blocked by federal judgeA federal judge on Tuesday temporarily blocked what would be the largest supermarket merger in U.S. history, involving Kroger and Albertsons.
Source: latimes - 🏆 11. / 82 Read more »

$25 Billion Kroger-Albertsons Merger Blocked By Federal JudgeThe judge sided with the Federal Trade Commission, which raised antitrust concerns over the merger.
Source: Forbes - 🏆 394. / 53 Read more »

Kroger and Albertsons are spending billions on stock buybacks after their blocked mergerSteve Kopack is a producer at NBC News covering business and the economy.
Source: NBCNews - 🏆 10. / 86 Read more »

Kroger and Albertsons are spending billions to reward shareholders after their blocked mergerWithin a day of their $25 billion merger’s falling apart in court, Kroger and Albertsons were each planning to move forward with share repurchases to boost…
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Good riddance to the merger of grocers Albertsons and Kroger, which would have cost you moneyThe $24.6-billion merger of Kroger and Albertsons supermarkets was designed to enrich corporate insiders at the expense of consumers. It won't be missed.
Source: latimes - 🏆 11. / 82 Read more »