Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators
Time:2024-05-21 15:38:04 Source:styleViews(143)
Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger.
The companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under the initial divestiture plan, announced in September, C&S had planned to purchase 413 stores for $1.9 billion.
It’s unclear if the new plan will satisfy regulators. In February, the U.S. Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants, saying the lack of competition would lead to higher grocery prices and lower wages for workers.
The FTC also said the initial plan to divest 413 stores to C&S was “inadequate” and would give C&S a hodgepodge of unconnected stores and brands, leaving it ill-equipped to compete with a combined Kroger and Albertsons.
You may also like
- Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
- China firmly opposes negative China
- China opposes U.S. deployment of intermediate
- China's top court vows better judicial protection of consumer rights
- Cruise worker 'murders newborn son on board ship': Shocked co
- GM China joint venture sees soaring vehicle export in Q1
- Commentary: Xi's meeting with Ma injects positive energy to relations across Taiwan Strait
- Thaksin Shinawatra: Former Thai prime minister released on parole
- NBA playoffs: Edwards leads Wolves to 98