Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Instagram Outage Disrupts Thousands of U.S. Users 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
The Kroger Company and Albertsons Companies, Inc. have been working on completing their merger deal. However, it was disclosed this week that the negotiation is delayed, and the process to close the contract will take more time than expected as scrutiny continues.
According to CNBC, with the confirmed delay, Kroger and Albertsons' acquisition deal may be completed within the first half of 2024 instead of the original plan of the early months of this year. It was said that the ongoing talks with federal regulators are causing the delay of the merger.
Kroger and Albertsons Remain Committed to Closing the Deal
Amid the delay, Kroger and Albertsons revealed they will keep pushing as they are committed to reaching the end and completing the transaction. They added that they would stick to their promise of providing unmatched benefits, which they first announced at the start of the transaction.
"We remain in active and ongoing dialogue with the Federal Trade Commission and individual state Attorneys General regarding our proposed merger and divestiture plan," Kroger said in a statement. "We believe our merger with Albertsons and the comprehensive divestiture to C&S will result in the best outcomes for customers, associates and our communities."
It added, "In light of our continuing dialogue with the regulators, we are updating our anticipated closure timeline. We currently anticipate that the closing will occur in the first half of Kroger's fiscal 2024. While this is longer than we originally thought, we knew it was a possibility and our merger agreement and divestiture plan accounted for such potential timing."
Washington AG Files Legal Case to Block the Merger
NPR reported that Washington Attorney General Bob Ferguson took Kroger and Albertsons to court on Monday, Jan. 15, to stop the deal that will unite the two leading supermarket chains in the U.S. He is requesting a permanent injunction from the court.
In the suit, the attorney general said the deal worth $24.6 billion would certainly alter the competition in the retail and food sector. Being the biggest supermarket chain brands, their combination will eliminate a rivalry that keeps food prices in check.
Photo by: Mike Kalasnik/Flickr(CC BY-SA 2.0)
