By ABC (Business) | Created at 2024-12-10 21:05:50 | Updated at 2024-12-22 17:50:11
1 week ago
A federal judge has temporarily halted a proposed merger between supermarket giants Kroger and Albertsons, an action that could scuttle the deal.
U.S. District Court Judge Adrienne Nelson issued the ruling Tuesday after holding a three-week hearing in Portland, Oregon.
Kroger and Albertsons in 2022 proposed what would be the largest grocery store merger in U.S. history. But the Federal Trade Commission sued earlier this year, asking Nelson to block the $24.6 billion deal until an in-house administrative judge at the FTC could consider the merger’s implications.
Nelson agreed to pause the merger.
“Any harms defendants experience as a result of the injunction do not overcome the strong public interest in the enforcement of antitrust law, especially given the difficulty in disentangling a premature merger,” she wrote in her opinion.
