Antitrust Regulator Files Lawsuit To Block Kroger’s $25B Bid For Albertsons

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Kroger Company‘s (NYSE:KR) $25 billion bid to take over rival supermarket Albertsons Companies (NYSE:ACI) was hanging in the balance on Monday after the Federal Trade Commission (FTC) filed a lawsuit to block the merger.

Shares in Kroger fell 1.7% while Albertsons gained 0.6% after the FTC said it had filed a lawsuit with a federal court in Oregon to stop the merger from going ahead.

Kroger had sold the deal to Albertsons on the premise the combined company would be better positioned to compete with larger rivals such as Walmart Inc (NYSE:WMT) and Costco Wholesale Corp (NASDAQ:COST).

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Full story available on Benzinga.com


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