Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators
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.
Related articles
Target to lower prices on basic goods in response to inflation
Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inf2024-05-21China embraces AI boom, diverse application scenarios
BEIJING, April 28 (Xinhua) -- Wearing a pink hairpin, white T-shirt and pink shorts, a "girl" who lo2024-05-21Chinese FM meets with Vietnamese deputy PM in Beijing
Wang Yi, Chinese co-chair of the China-Vietnam Steering Committee for Bilateral Cooperation, met wit2024-05-21Barca may request Real replay if VAR error found
FC Barcelona president Joan Laporta on Monday refused to rule out his club demanding a replay of Sun2024-05-21Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
ARLINGTON, Texas (AP) — The reigning World Series champion Texas Rangers are undefeated this season2024-05-21Messi guides Inter Miami past New England
Lionel Messi scored two goals and set up another as leaders Inter Miami recovered from a goal down t2024-05-21
atest comment