Albertsons, Kroger tie-up blocked by judge, Bloomberg reports

In a decision filed in Oregon federal court, U.S. District Judge Adrienne Nelson found in favor of the Federal Trade Commission and blocked Kroger’s (KR) acquisition of Albertsons (ACI), ruling that the takeover would lessen competition for grocery shoppers in a ruling that “marks a likely death knell for the deal,” reported Bloomberg’s Leah Nylen. The decision is a major victory for the FTC and outgoing head Lina Khan, who came under harsh scrutiny from conservatives and business groups over her administration’s increased antitrust enforcement under the Biden administration, the author notes. Shares of Albertsons are down roughly 5% while Kroger shares are up 4.4% after the news.