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Sanders Says Biden Admin 'Must Reject' Merger of Kroger and Albertsons

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'At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger, the 2nd largest grocery store in America, to merge with Albertsons, the 4th largest grocery store in America,' said SenSanders.

"At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger... to merge with Albertsons," said the Vermont progressive.Sen.

Thursday night, before an agreement had been reached."The Biden administration must reject this deal."Under the terms of the merger, Kroger agreed to buy Albertsons for a grand total of $24.6 billion. The price tag includes the purchase of Albertsons stock at $34.10 per share and the assumption of approximately $4.7 billion of the company's debt. As part of the transaction, Albertsons will pay its shareholders a special cash dividend of up to $4 billion next month.

Cincinnati-based Kroger trails only Walmart in grocery market share, while Boise-based Albertsons is behind Costco. As a result of Friday's acquisition, the new conglomerate is expected to

 

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SenSanders Imagine when the ENTIRE American food chain supplies are in the hands of ONE CORPORATION. Now, imaging YOU voting for a corporate chill this election. I hope you are thinking.

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Shares of Albertsons jump on report of potential merger with grocery giant KrogerGreat, take even more competition out of the grocery business. This is not good news where I live, for all there are are Kroger and Albertsons stores.
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Albertsons stock heads higher amid report of Kroger merger interestShares of Albertsons Cos. Inc. undefined were up more than 11% in Thursday morning trading after Bloomberg News reported that Kroger Co. undefinedwas in...
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Grocery chains Kroger, Albertsons in talks for possible merger: reportA possible agreement could reportedly be reached as soon as this week. In February, Albertsons' board of directors launched a review of potential strategic alternatives. Less competition=higher prices & profits. The 'trust' in antitrust. The breaking of supply and demand. Bernie is not going to be happy! The DOJ should never allow this merger.
La source: FoxBusiness - 🏆 458. / 53 Lire la suite »