Kroger and Albertsons release list of stores to be divested in proposed acquisition

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A list of stores to be divested as a result of a proposed merger between Kroger and Albertson's was released by Kroger. The proposed acquisition is in litigation by the FTC and several state attorney generals for anticompetitive practices.

The shape of a proposed merger between grocery giants Kroger and Albertson's took a step forward with the companies releasing a massive list of stores that will be divested in the acquisition.In Arizona, nearly 100 stores will be impacted by the proposed deal, including 20 in Phoenix.However, the $24.6 billion acquisition is being challenged by the Federal Trade Commission for its anticompetitive nature.

Kroger operates across 36 states while Albertson's is operational in 35 and combined the companies operate more than 5,000 stores with 700,000 employees.Both companies finished the day in negative in stock market trading on the heels of the store location release and subsequent response.The FTC says that a merger between two of the largest grocery chains in the nation will allow them to set already high prices to whatever level they desire.

 

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