Kroger (KR) shares declined in intraday trading Tuesday as the biggest U.S. supermarket chain launched a two-part effort to finally end its long-running battle to purchase rival Albertsons (ACI).

Kroger said it has asked the federal court in the Southern District of Ohio for an injunction against the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission's (FTC) administrative proceeding aimed at blocking the deal from going through. The company argued that the proceeding violates the Constitution as it is being held along with the FTC's court action against the merger.

At the same time, Kroger filed a Preliminary Prospectus Supplement with the 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Commission (SꦇEC) to sell an undetermined amount of bonds to come due between 2026 and 2064. The company explained that the proceeds from the offering would be used "to pay a portion of the cash consideration for the Merger."

FTC Has Claimed Kroger-Albe✅rtsons Combination Would Li༒mit Competition

Kroger's planned $24.6 billion acquisition of Albertsons was announced in 2022, but the FTC moved last February to stop it, claiming the combination would limit competition and increase food prices. The companies have denied that, and have been 澳洲幸运5官方开奖结果体彩网:selling off stores in order to get regulatory approval.

Shares of Kroger were down almost 2% at $51.79 as of 2 p.m. ET Thursday but are up about 13% for 2024. Albertsons shares, which slipped less than 1% to $20.74, are 9% lower year-to-date.