style

Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators

Font size+Author:Worldly Workshop news portalSource:opinions2024-05-21 06:30:38I want to comment(0)

Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effor

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
  • Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored

    Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored

    2024-05-21 06:19

  • Xinjiang Sees Record Tourist Arrivals As Security Improves: Regional Chair

    Xinjiang Sees Record Tourist Arrivals As Security Improves: Regional Chair

    2024-05-21 06:12

  • Asian Para Games Day 2: China Claims 36 Golds with Tons of New Records

    Asian Para Games Day 2: China Claims 36 Golds with Tons of New Records

    2024-05-21 04:22

  • UN Security Council strongly condemns terrorist attack in Russia

    UN Security Council strongly condemns terrorist attack in Russia

    2024-05-21 03:52

Netizen comments