ALBERTSONS SAYS IT IS NOW BACKING OUT OF THE MERGER WITH KROEGER. MULTIPLE LAWSUITS AND AN INVESTIGATION FROM THE FTC KEPT PUTTING THE DEAL ON HOLD. OPPONENTS SAID THAT THIS PARTNERSHIP WOULD MEAN THERE WOULD BE A LACK OF COMPETITION AND PRICES FOR CONSUMERS WOULD GO UP. AFTER THE FTC AND A JUDGE IN WASHINGTON STATE RULED TO PUT A TEMPORARY HOLD ON THE DEAL YESTERDAY, ALBERTSONS NOW SAYS THEY ARE GIVING UP ON IT. NOT ONLY THAT, BUT THEY ARE GOING TO FILE A LAWSUIT AGAINST KROEGER FOR ALLEGEDLY NOT PUTTING IN THEIR BEST EFFORT TO GET THE APPROVAL NEEDED FOR THE TRANSACTION TO HAPPEN.
