ACI News Explorer
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View ACI on Yahoo Finance →2024-12-11
Albertsons Backs Out of Merger Deal and Sues Kroger After Court Rulings
Dec 11, 2024, 9:21 AM
The supermarket chain had tried to join forces with Kroger, but judges sided with federal and state regulators who charged that the merger would reduce competition.
2024-12-10
Kroger's $25-billion deal for grocery rival Albertsons blocked by US courts
Dec 10, 2024, 6:43 PM
(Reuters) -A U.S. judge blocked the pending $25-billion merger of U.S. grocery chains Kroger and Albertsons on Tuesday, in a win for the Federal Trade Commission that Kroger has said would likely scuttle the deal. The FTC argued at a three-week trial in Portland, Oregon, that the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers and reduced bargaining leverage for unionized workers. The ruling, which could be appealed, is a big victory for FTC Chair Lina Khan and President Joe Biden's administration in their bid to counter inflation at the checkout.
Federal judge blocks Kroger's $25B acquisition of Albertsons
Dec 10, 2024, 3:53 PM
A federal judge issued a ruling that blocks the proposed $25 billion merger between Albertsons and Kroger, which critics argued would reduce competition in the grocery industry.
2024-08-31
Mega Millions jackpot balloons to $681 million after no grand prize winner
Aug 31, 2024, 12:55 AM
The Mega Millions jackpot grew to an estimated $681 million after no tickets matched the winning numbers during Friday night's drawing.