A federal judge ruled Tuesday to block a $24.6 billion merger between American grocery giants Kroger and Albertsons.
Lawyers for the Federal Trade Commission and for the supermarket chains gave their closing arguments at the end of a three-week hearing in September on the commission’s request for a preliminary injunction to block the $24.6 billion deal.
Kroger and Albertsons argued their merger would preserve consumer choice by allowing them to better compete against growing rivals like Walmart, Costco and Amazon.
The judge ruled in an Oregon court that a preliminary injunction had been granted, with the ruling stating that though the merger may be abandoned as a result of the injunction, the order still leaves open the possibility that the merger can be pursued at a later date if proceedings deem it lawful.
Kroger is the parent company of Chicago-area grocery chain Mariano’s, while Albertsons is the parent company of regional grocery mainstay Jewel-Osco.
This is a developing story. Check back later for details.