By Eric Revell
Source: Fox Business
Kroger and Albertsons on Thursday agreed to temporarily pause their proposed $25 billion merger while regulators pursue legal challenges in an effort to block the deal.
The two companies 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.
“The trial is set to begin on Sept. 30 and my office looks forward to making the case that this merger will eliminate competition and impact food prices, jobs, and consumer choice,” Colorado Attorney General Phil Weiser said in a statement.
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