Kroger and Albertsons will defend their plan to merge – and try to overcome the U.S. government’s objections – in a federal court hearing scheduled to begin Monday in Oregon.
The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. They say joining together would help them rein in costs and better compete with big rivals like Walmart and Costco.
But the Federal Trade Commission sued to try to block the deal, saying it would eliminate competition and raise grocery prices in a time of already high food price inflation. The commission also alleged that quality would suffer and workers’ wages and benefits would decline if Kroger and Albertsons no longer competed with each other.
The FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. In a three-week hearing set to begin Monday, U.S. District Judge Adrienne Nelson is expected to hear from around 40 witnesses, including the CEOs of Kroger and Albertsons, before deciding whether to issue the injunction.
The attorneys general of Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, New Mexico, Oregon and Wyoming all joined the case on the FTC’s side.
Kroger, based in Cincinnati, Ohio, operates 2,800 stores in 35 states, including brands like Ralphs, Smith’s and Harris Teeter. Albertsons, based in Boise, Idaho, operates 2,273 stores in 34 states, including brands like Safeway, Jewel Osco and Shaw’s. Together, the companies employ around 710,000 people.
2024-12-26 22:52666 view
2024-12-26 22:35379 view
2024-12-26 22:331118 view
2024-12-26 22:081339 view
2024-12-26 21:522228 view
2024-12-26 20:351229 view
The 21-year-old woman who died in a motorcycle crash in Johor on Tuesday (Dec 10) had just surprised
Esme Lynch is mourning the loss of her loved ones.The sister of the late Hannah Lynch, 18, who peris
Residents of Massachusetts are now free to arm themselves with switchblades after a 67-year-old rest