The FTC’s competition chief speaks on “The Claman Countdown” about the lawsuit to block the Kroger-Albertsons merger.
Kroger and Albertsons The two companies agreed on Thursday to temporarily halt their proposed $25 billion merger while regulators take legal action to block the deal.
The two companies Merger Pending The lawsuit filed by Colorado is proceeding. The move eliminates the need for a preliminary injunction hearing scheduled for next month.
“Trial is scheduled to begin on September 30th, and my office looks forward to developing our arguments that this merger will eliminate competition and affect food prices, jobs and consumer choice,” Colorado Attorney General Phil Weiser said in a statement.
“Today’s ruling is welcome news as it eliminates the need for a preliminary injunction hearing in Colorado that was scheduled for Aug. 12,” a Kroger spokesperson told FOX Business. “We look forward to making the case in court how the Kroger-Albertsons combination will provide meaningful, measurable benefits for families across the country, including more choices at lower prices and increased access to stable, high-paying union jobs.”
Albertsons and Kroger agreed to halt their merger until the end of a Colorado court case. (Getty Images)
Kroger and Albertsons identify about 600 stores to sell in pursuit of merger approval
Albertsons did not immediately respond to a request for comment.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| Australia | Albertsons Companies | 20.41 | +0.23 |
+1.11% |
| South Korea | Kroger Co. | 54.18 | +0.34 |
+0.63% |
The two companies have agreed to sell approximately 600 stores to C&S Wholesale Grocers. Regulatory Approval The company recently released a list of stores that will change ownership in the deal, which would make it the largest merger in the history of the grocery store industry.
Albertsons and Kroger initially announced plans to sell 413 stores in September 2023, then updated that number in April to include 166 more stores in a larger sale that would also see Kroger and Albertsons divest six distribution centers, a dairy plant, certain brands and other non-store assets.
Kroger-Albertsons Merger: Good or Bad for Shoppers?
Albertsons and Kroger recently announced the list of stores they will sell to C&S Wholesale Grocers in preparation for merger approval. (Bridget Bennett/Bloomberg via Getty Images)
Kroger CEO Rodney McMullen The company said in April that the plan was intended to ensure “no stores will be closed as a result of the merger, all frontline associates will remain employed, all existing collective bargaining agreements will continue, and associates will continue to receive their negotiated wages, as well as industry-leading health care and pension benefits.”
Critics of the proposed merger say the deal will lead to grocery store closures; Consumer Access Supplies of essential goods will be restricted and jobs will be cut, while prices of food and other goods sold in supermarkets could rise.
The Federal Trade Commission and several states have filed lawsuits to block the Albertsons-Kroger merger. (Andrew Haller/Bloomberg via Getty Images)
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Colorado is the second state to file a lawsuit to block the deal, following Washington state’s move in January. Federal Trade Commission Eight other states filed separate lawsuits in late February.
Reuters contributed to this report.
