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Stock impact report

Kroger must pay legal fees after failed merger with Albertsons, Oregon-led lawsuit says [Yahoo! Finance]

Kroger Company (The) (KR) 
Last kroger company (the) earnings: 3/5 08:30 am Check Earnings Report
US:NYSE Investor Relations: ir.kroger.com
Company Research Source: Yahoo! Finance
According to the lawsuit , the state wants Kroger to reimburse litigation expenses, totaling $910,936.89, as well as attorneys' fees, totaling $9,437,598.40. In October 2022, two of the largest grocery chains in the U.S., Kroger and Albertsons, proposed to merge after Kroger agreed to purchase Albertsons. The Federal Trade Commission sued to stop the $25 billion merger , alleging it would eliminate competition, create potential food and pharmacy desserts, and lead to higher food prices — as well as lower workers' wages and benefits — for already struggling consumers, even though Kroger's CEO at the time, Rodney McMullen, insisted that the merger would bring lower prices and allow the corporations to compete against other retail giants, like Walmart, Costco and Amazon. Oregon, Washington, D.C., and seven other states — Arizona, California, Illinois, Maryland, Nevada, New Mexico and Wyoming — joined the FTC's lawsuit. In December, judges in Washington and Oregon halted the merger Show less Read more
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