The proposed $24.6 billion merger between Kroger and Albertsons has been halted after federal and state courts ruled in favor of the Federal Trade Commission (FTC) and state attorneys general. The FTC and regulators challenged the merger, citing concerns over reduced competition, potential price increases, and fewer choices for consumers.
A federal judge in Oregon issued a preliminary injunction blocking the merger, while a judge in Washington state issued a permanent injunction. Kroger has subsequently terminated the merger agreement, concluding it was "no longer in its best interests to pursue the merger."
Albertsons has filed a lawsuit against Kroger, alleging that Kroger failed to make a "good faith" effort to secure the merger and harmed Albertsons' shareholders and employees.
Kroger will instead embark on a $7.5 billion share buy-back program.
UPDATE - 14th Dec 2024
The proposed $24.6 billion merger between Kroger and Albertsons has been halted after federal and state courts ruled in favor of the Federal Trade Commission (FTC) and state attorneys general. The FTC and regulators challenged the merger, citing concerns over reduced competition, potential price increases, and fewer choices for consumers.
A federal judge in Oregon issued a preliminary injunction blocking the merger, while a judge in Washington state issued a permanent injunction. Kroger has subsequently terminated the merger agreement, concluding it was "no longer in its best interests to pursue the merger."
Albertsons has filed a lawsuit against Kroger, alleging that Kroger failed to make a "good faith" effort to secure the merger and harmed Albertsons' shareholders and employees.
Kroger will instead embark on a $7.5 billion share buy-back program.