FTC announcements and major news outlets

Federal Judge Blocks Largest Grocery Merger: Kroger's $24.6 Billion Albertsons Deal, Siding with FTC

Dec 10, 2024, 08:40 PM

A federal judge in Oregon, Adrienne Nelson, has blocked Kroger Co.'s $24.6 billion acquisition of rival Albertsons Cos., granting the Federal Trade Commission's (FTC) motion for a preliminary injunction. The judge, appointed by President Biden, cited concerns that the merger would reduce competition and potentially raise prices for U.S. grocery shoppers. This decision marks a significant setback for the two supermarket giants and may signal the end of what would have been the largest grocery merger in U.S. history. The ruling is considered a substantial victory for the FTC and its chair, Lina Khan, reinforcing the agency's antitrust enforcement efforts. Following the announcement, Kroger's shares rose by 5.2%.