CINCINNATI — The Kroger Co. will walk away from the largest acquisition in its history if a federal judge grants a temporary injunction to delay its $24.6 billion purchase of Albertsons Companies Inc.
If that happens, Albertsons is likely to cut jobs, close stores and seek a new buyer.
Those were two of the big takeaways from opening statements in a three-week hearing that will determine whether the merger violates antitrust rules.
U.S. District Judge Adrienne Nelson heard more than three hours of opening statements from four attorneys on both sides of the deal yesterday, as hundreds of interested parties listened to the arguments on an audio feed.
Attorneys for the Federal Trade Commission warned the merger would lead to higher prices and lower wages. Attorneys for both companies argued more damage will be done by blocking the deal.
“It could mean layoffs. It could include closing stores. It may …