Advertisement

Merger Postponed: The U.S. 9th Circuit Court...

Merger Postponed: The U.S. 9th Circuit Court in San Francisco granted the California attorney general’s request to postpone for 30 days the merger of American Stores’ Lucky and Alpha Beta supermarket chains, according to Sanford N. Gruskin, an assistant attorney general. The delay was granted so that the attorney general’s office could appeal to the Supreme Court in the hope of permanently blocking the merger, which it claims will result in higher food prices. Gruskin said that for the postponement to take effect the attorney general’s office must post a bond to cover any losses that American Stores might incur should the Supreme Court turn down the appeal. The size of that bond is to be determined by the U.S. District Court in Los Angeles.


Advertisement
Advertisement