12:16 PM EDT, 07/25/2024 (MT Newswires) -- (Updates with comment from Kroger ( KR ) in the fourth paragraph.)

Kroger ( KR ) and Albertsons ( ACI ) agreed to extend the closing of their $25 billion proposed merger after a Colorado judge issued a preliminary injunction to temporarily block the deal, Bloomberg reported Thursday.

Judge Andrew Luxen also called off the hearing scheduled for next month and will oversee a two-week trial on the merits of the proposed transaction starting Sept. 30, according to the report.

The companies have agreed to wait until the court issues a ruling, the report added.

"Today's decision is welcome news as it eliminates the need for a preliminary injunction hearing in Colorado that was previously scheduled to begin Aug. 12," a Kroger ( KR ) spokesperson told MT Newswires in an email. "We look forward to defending in court how the combination of Kroger ( KR ) and Albertsons ( ACI ) will provide meaningful, measurable benefits, including lower prices and more choices for families across the country and more opportunities for stable, well-paying union jobs."

Albertsons ( ACI ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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