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Kroger, Albertsons Merger Marks Key Hearing in Portland
The ongoing legal processings surrounding the proposed megamerger of two of the country’s biggest grocers, Kroger and Albertsons, marked the case’s first major hearing in Portland, Oregon.
The hearing comes amid months of legal updates as the Federal Trade Commission challenged Kroger’s proposed acquisition of Albertsons, suing to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices.
The attorneys general of Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, New Mexico, Oregon and Wyoming all joined the case on the FTC’s side. Washington and Colorado have also filed separate cases in state courts seeking to block the merger.
The hearing is scheduled to last several weeks, and the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. “This lawsuit is part of an effort aimed at helping Americans feed their families,” the FTC’s chief trial counsel, Susan Musser, said in opening arguments.
