Colorado Attorney General announces lawsuit to block Kroger, Albertsons merger

  • 📰 DenverChannel
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Jeff is a digital journalist with the Denver7 team.

DENVER — Kroger’s $20 billion attempt to merge with Albertsons Companies Inc., hit a snag in Colorado on Wednesday as the Attorney General announced a lawsuit to block the supermarket chains from combining.

The merger was announced in October 2022 and if it were to happen, together the stores would control nearly 13% of the grocery market in the United States, the Associated Press reported. In Denver, nearly half of all grocery stores would be under one big company."A post-merger Kroger would have the ability to raise prices, pinching consumers.

Kroger's CEO said in a release the proposed merger would benefit consumers stating the company since 2003 has saved consumers $5 billion and has "consistently lowered prices and improved the customer experience during previous mergers." “This merger is bad for Washington shoppers and workers. Free enterprise is built on companies competing, and that competition benefits consumers,” said Ferguson in a news release. “Shoppers will have fewer choices and less competition, and, without a competitive marketplace, they will pay higher prices at the grocery store. That’s not right, and this lawsuit seeks to stop this harmful merger.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 239. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mystery Company Linked to Biden Robocall Identified by New Hampshire Attorney GeneralThe FCC has issued a cease and desist and is working on a new proposal banning AI-generated robocalls.
Source: WIRED - 🏆 555. / 51 Read more »