In a legal battle regarding the proposed acquisition of Kröger Company KR compared to its rival Albertsons Companies Inc ACIA Colorado court has reportedly scheduled a preliminary injunction hearing scheduled for mid-August.
This comes ahead of a US government antitrust challenge to the deal, according to a Bloomberg report.
Judge Andrew Luxen of the Denver District Court announced that the hearing will be held Aug. 12-22, two weeks before a federal court hearing on the Federal Trade Commission’s (FTC) attempts to block the merger.
The U.S. Federal Trade Commission’s attempt to stop the merger will go to trial in Oregon at the end of August.
Matthew Wolf, a representative for Kroger, mentioned a potential “strengthened divestment package.” C&S Wholesale Grocers Inc. This proposal aims to address concerns raised by the Colorado Attorney General’s Office, pending further details.
Arthur Biller of the Colorado legal team reportedly expressed uncertainty about receiving the revised proposed remedy, underscoring the ongoing legal complexities surrounding the merger.
The merger deal, due Oct. 9, presents financial challenges if extended beyond that, although Kroger remains open to the idea, according to Wolf.
Price action: KR shares were trading 0.02% lower at $55.95 in the premarket at last check on Tuesday.
Disclaimer: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons