Colorado Sues to Block Kroger-Albertsons Merger
By Dave Michaels
The state of Colorado is suing to block Kroger's $24.6 billion acquisition of grocery rival Albertsons.
The state becomes the second to sue over the deal on antitrust grounds, following Washington, which did so in January.
Colorado Attorney General Phil Weiser says the companies' plan to divest 413 stores doesn't fix the loss of competition posed by the deal.
Kroger operates 148 stores in Colorado under the King Soopers name and Albertsons has 105 including those run under the Safeway brand, according to Weiser's office.
The Federal Trade Commission, which enforces antitrust laws at the national level, is expected to sue this month to block the deal. The states' lawsuit would likely be consolidated into a single lawsuit if the FTC files in federal court to oppose the transaction.
Colorado also alleges that Kroger and Albertsons had an illegal "no-poach" agreement in 2022 that forbid Albertsons from hiring Kroger employees during a strike.
Write to Dave Michaels at dave.michaels@wsj.com
(END) Dow Jones Newswires
February 14, 2024 14:00 ET (19:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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