5/1/12
Grocery store giants Kroger and Albertsons announced that they are putting their planned merger on hold.
The announcement came after a Colorado judge allowed a lawsuit against the merger to proceed. Colorado Attorney General Phil Weiser released a statement expressing his pleasure with the two companies' decision.
"This is great news for shoppers, workers, farmers, and other suppliers, who can rest assured that this megamerger will not go into effect during harvest season and while kids are headed back to school," Weiser said.
Arizona Attorney General Kris Mayes joined officials across the country opposing the merger. Part of the legal concern is that the merger of the two companies would affect thousands of grocery stores across the country. The merged companies could result in a single company controlling as much as 25% of the U.S. grocery market.
Mayes released a statement on X, formerly known as Twitter, saying she is pleased to see the decision. In addition to multiple state lawsuits trying to stop the merger, the Federal Trade Commission is also trying to keep it from happening.
In Arizona, Kroger owns the Fry’s grocery chain.
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