Judge rules to block $24.6 billion Kroger-Albertsons merger

Kroger and Albertsons argued their merger would preserve consumer choice by allowing them to better compete against growing rivals like Walmart, Costco and Amazon

Lawyers for the Federal Trade Commission, backed by President Joe Biden's administration, and for the supermarket chains gave their closing arguments at the end of a three-week hearing in September on the commission's request for a preliminary injunction to On Tuesday, a judge handed down a ruling siding with the FTC, who had argued that the merger could eliminate competition and lead to higher prices in court filings and hearings.

Kroger and Albertsons argued their merger would preserve consumer choice by allowing them to better compete against growing rivals like Walmart, Costco and Amazon. The judge ruled in an Oregon court that a preliminary injunction had been granted, with the ruling stating that though the merger may be abandoned as a result of the injunction, the order still leaves open the possibility that the merger can be pursued at a later date if proceedings deem it lawful.Kroger is the parent company of Chicago-area grocery chain Mariano's, while Albertsons is the parent company of regional grocery mainstay Jewel-Osco.

Illinois Attorney General Kwame Raoul was one of numerous AG's across the country who signed onto a bipartisan lawsuit against the merger, saying that the deal would haveFeeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

A federal judge temporarily halts the proposed supermarket merger of Kroger and AlbertsonsPORTLAND, Ore. (AP) — A federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could
Источник: Mynorthwest - 🏆 438. / 53 Прочитайте больше »

Judge blocks Albertsons-Kroger $25 billion supermarket mergerRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.
Источник: NBCNews - 🏆 10. / 86 Прочитайте больше »

Federal judge blocks merger of Kroger and Albertsons, citing threat to competitionThe temporary injunction, which halts the merger while a Federal Trade Commission proceeding plays out, is expected to effectively torpedo that deal.
Источник: adndotcom - 🏆 293. / 63 Прочитайте больше »

Federal judge temporarily halts proposed Kroger and Albertsons supermarket mergerA federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal
Источник: ABC - 🏆 471. / 51 Прочитайте больше »

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.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »