UNITED STATES - We’ve been following the updates regarding Kroger and Albertsons since the two first announced the merger. The most recent update came Thursday after both companies agreed to temporarily pause the proposed $25 billion merger.
According to a report from FOX Business, Kroger and Albertsons agreed to a temporary injunction that puts the merger on hold while a lawsuit filed by Colorado plays out. The move negates the need for a preliminary injunction hearing that had been scheduled to occur next month.
A Kroger spokesperson speaking with FOX Business issued the following on behalf of the two companies.
“Today's decision is welcome news as it eliminates the need for a preliminary injunction hearing in Colorado that was previously scheduled to begin August,” the statement reads. “We look forward to defending in court how the combination of Kroger and Albertsons will provide meaningful, measurable benefits, including lower prices, and more choices for families across the country, and more opportunities for stable, well-paying union jobs.”
Colorado Attorney General Phil Weiser issued a statement regarding the decision.
“The trial is set to begin on September 30 and my office looks forward to making the case that this merger will eliminate competition and impact food prices, jobs, and consumer choice,” Weiser commented.
As the story develops, ANUK will continue to cover.
