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☆ Albertsons calls off merger and sues Kroger
▼ + stars: | 2024-12-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Grocery chain Albertsons called off its $25 billion merger with Kroger, ending the largest proposed merger in US supermarket history. “We have made the difficult decision to terminate the merger agreement,” Albertsons CEO Vivek Sankaran said in a statement Wednesday. Albertsons also sued Kroger for breach of its contract agreement, alleging Kroger caused the merger to be blocked. Supermarkets have been losing ground in recent decades to competition, and Kroger and Albertsons wanted to merge to better fight off Walmart and Amazon. The merger would eliminate head-to-head competition between Albertsons and Kroger, potentially raising prices for consumers, she said in the ruling.

Persons: Vivek Sankaran, Harris Teeter, Fred Meyer, Kroger, ”, Adrienne Nelson, Nelson, Lina Khan, Khan, Rodney McMullen, “ We’ve, we’ll Organizations: New, New York CNN, Albertsons, Kroger, Safeway, Vons, Walmart, Amazon, Federal Trade Commission Locations: New York, Oregon, America

Judge Adrienne Nelson said Tuesday afternoon that a merger between the two companies would end up harming consumers. The two companies "engage in substantial head-to-head competition and the proposed merger would remove that competition," Ferguson wrote. As a result, the proposed merger would likely to lead to outcomes that "unilaterally" harm consumers, and is thus "presumptively unlawful. " Judge Ferguson also ruled the merger would be bad for workers, arguing increased consolidation would reduce workers' bargaining power. Kroger shares closed up 5% Tuesday, while shares of Albertsons, based in Boise, finished 2% lower.

Persons: Adrienne Nelson, Ferguson, Judge Ferguson, Kroger, Nelson, Biden, Lina Khan Organizations: U.S, District, Kroger, Albertsons, Federal, Walmart, Target Locations: Oregon, Cincinnati, Boise

☆ Kroger's $25 billion acquisition of Albertsons was blocked, marking a win for the FTC
▼ + stars: | 2024-12-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

Kroger's proposed $24.6 billion acquisition of Albertsons was blocked by a federal judge. The acquisition would be the largest supermarket merger in US history. Kroger's $24.6 billion proposed acquisition of Albertsons was blocked by a federal judge on Tuesday, marking a win for the Federal Trade Commission that could ultimately sink the deal. The acquisition would be the largest supermarket merger in US history. They also said the deal would lead to lower prices for some consumers, citing higher prices at Albertsons stores compared to Kroger.

Persons: Kroger's, Adrienne Nelson, Kroger, Matthew Wolf, Lina Khan Organizations: Albertsons, FTC, Federal Trade Commission, Business, Lawyers, Kroger, Walmart, Costco Locations: Oregon

☆ Federal judge blocks Kroger’s $25 billion mega-merger with Albertsons
▼ + stars: | 2024-12-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —A federal judge in Oregon blocked Kroger’s proposed $25 billion tie-up with Albertsons, ruling that the largest merger in US supermarket history would limit competition and harm consumers. Small grocery stores strugglingIndependent grocery stores strongly opposed the merger. Yet consolidation in the grocery sector is growing, and small grocery stores are struggling. Traditional grocery stores have also lost ground to Walmart, Costco, dollar stores and online retailers during that span. “Persistently high food prices are hitting Americans hard, and a Kroger-Albertsons mega-merger would have only made it worse,” Food & Water Watch senior food policy analyst Rebecca Wolf said in a statement Tuesday

Persons: Kroger’s, Harris Teeter, Fred Meyer, Kroger, Rodney McMullen, Adrienne Nelson, Democratic Sen, Elizabeth Warren of, Republican Sen, Mike Lee of, ”, Judge Nelson, “, Lina Khan, Judge Nelson’s, Rebecca Wolf Organizations: New, New York CNN, Albertsons, Safeway, Vons, Supermarkets, Kroger, Walmart, Amazon, Costco, Unions, Democrats, Republicans, Capitol, Democratic, Republican, Federal Trade Commission, FTC, S Wholesale Grocers, Google, Agriculture Department, Water Watch Locations: New York, Oregon, Aldi, Elizabeth Warren of Massachusetts, Mike Lee of Utah

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