Kroger, Albertsons Expected to Defend Grocery Merger at Senate Hearing

from elected officials, independent retailers and some union groups over its potential impact on workers’ jobs, as well as on industry competition and food prices for consumers. Some lawmakers in Washington, including Ms. Klobuchar, and state-level officials have said they worry the merger could hinder competition..

The chains have said they expect the regulatory review process to take as long as two years, with the deal closing in early 2024. They have submitted information on the proposed deal to the Federal Trade Commission for review and have said they expect to sell stores to secure approval. In grocery-sector deals,Kroger CEO Rodney McMullen is expected to testify at the Senate hearing.Ms.

A group of state attorneys general has asked Albertsons to delay a $4 billion dividend payment, announced when the companies agreed to their merger, until antitrust officials finished reviewing the deal. The attorneys general have said the dividend could hurt Albertsons’ ability to compete with Kroger and other grocers, particularly if the deal doesn’t go through.

senyorreporter

There would be no effect. Both companies have a diminishing amount of items to sell and neither can get more at affordable prices.

Another TOPS grocery in mergers. Fined Wells Fargo- hmmmm

Around my town we have Kroger + Albertsons, Thom Thumb, HEB, Walmart (Sam’s, Corner Grocery, Super Walmart), Super Target, and COSTCO. So the merger would not lessen competition much.

But SBF walks around free.

Opposing mergers in a 2.5% profit margin business? Profile in Courage 2

Proud as punch that her country is bombing innocent children..KARMA

Your reminder that post merger the company will have less than 14% of the national grocery market.

Is it crazy to think that these 2 kinda need this merger? They lose ground all the time to places like WalMart, Aldi and others.

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Kroger, Albertsons CEOs to face congressional questions on planned U.S. mergerKroger CEO Rodney McMullen and Albertsons' top executive, Vivek Sankaran, will face questions this week on plans for the two giant grocery companies to merge in a $25 billion deal, Senator Amy Klobuchar's office said in a statement. They are the same co. An increasingly monopolized retail food supply will be a bad bad thing for everyday people… and small farmers too. I blame Earl Butz.
La source: Reuters - 🏆 2. / 97 Lire la suite »

UFCW Local 7 president, members in D.C. ahead of Kroger-Albertsons merger hearingKim Cordova, president of UFCW Local 7, which represents King Soopers and Safeway workers in Colorado, worries the merger could result in job losses and store closures. via PattrikPerez
La source: DenverChannel - 🏆 239. / 63 Lire la suite »