Washington state sues to stop $25 billion merger of Kroger and Albertsons grocery chains, claiming it will lead to higher prices
From Fortune Media Group Holdings:
Washington state Attorney General Bob Ferguson is suing to block the proposal of a Kroger and Albertsons merger. The suit filed in King County Superior Court argues the $25 billion deal is harmful to consumers. Kroger owns QFC and Fred Meyer, and is seeking to acquire Albertsons, which could affect over 300 stores in the state.
In a statement Monday, Kroger said it was pushing back its timeline for closing the deal due to ongoing dialogue with regulators and now anticipates closure in the first half of its fiscal year, which ends in mid-August. The company claimed the merger will bring lower prices for consumers.
Kroger and Albertsons previously announced plans to sell more than 400 stores and other assets to C&S Wholesale Grocers to clear the path for the merger. Both companies say they must merge in order to compete with Walmart and Amazon who have entered the grocery business.
Read more: Washington state sues to stop $25 billion merger of Kroger and Albertsons grocery chains, claiming it will lead to higher prices