e asking the judge to let the deal proceed, saying the tie-up is necessary to compete with multinational corporations like Walmart.
, telling a federal judge in Portland, Ore., that the deal would eliminate competition between the top grocery store chains and hit consumers’ wallets. FTC Chief Trial Counsel Susan Musser urged US District Judge Adrienne Nelson on Monday to pause the deal, saying in opening statements that it would result in Kroger “swallowing” Albertsons.
It is also a key test of FTC Chair Lina Khan’s initiative to use antitrust law to boost wages and mobility for workers. Kroger and Albertsons say the lawsuit’s focus on traditional supermarkets ignores that consumers typically shop for food at a variety of locations including big-box stores like Target and dollar stores such as Dollar Tree.Kroger and Albertsons are asking the judge to let the deal proceed, saying the tie-up is necessary to compete with multinational corporations like Walmart.Kroger has said it will sell 579 of the approximately 5,000 stores it would own if the deal is allowed to go through.
Although Kroger said it could not provide more specifics on the details of the price investments, a source familiar with the matter indicated that the reductions will likely focus on essential and high-demand items first.
Antitrust Law Ftc Lawsuits Mergers & Acquisitions Prices Supermarkets Walmart
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kroger sues FTC over in-house review of $25B grocery deal that 'could take years'A pending $20 billion merger between Kroger and Albertsons is on hold while anti-trust lawsuits designed to block it continue. Arizona, among many other states, filed a lawsuit saying the merger would reduce competition and raise prices.
Read more »
Kroger and Albertsons hope to merge but must face a skeptical US government in court firstThe largest proposed grocery merger in U.S. history is heading to court. On one side are supermarket chains Kroger and Albertsons, which say their planned merger will help them compete against rivals like Costco.
Read more »
Kroger and Albertsons hope to merge but must face a skeptical US government in court firstThe largest proposed grocery merger in U.S. history is heading to court.
Read more »
Kroger and Albertsons hope to merge but must face a skeptical US government in court firstThe largest proposed grocery merger in U.S. history is heading to court.
Read more »
Kroger and Albertsons hope to merge but must face a skeptical US government in court firstThe largest proposed grocery store merger in U.S. history is going to court. On one side are supermarket chains Kroger and Albertsons, which say their
Read more »
Kroger and Albertsons hope to merge but must face a skeptical US government in court firstThe largest proposed grocery merger in U.S. history is heading to court.
Read more »