News Formal

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

  • 📰 FOX10Phoenix
  • ⏱ Reading Time:
  • 23 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 68%

Business News

News,Us

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.

 

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:

 /  🏆 83. 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.

Denver judge rejects motion to dismiss Colorado lawsuit opposing Kroger-Albertson’s mergerDenver District Court ruling should clear the way for Colorado’s anti-trust case to move forward.
Source: denverpost - 🏆 13. / 72 Read more »

35 Illinois Mariano's, Jewel stores to close if Kroger-Albertson's merger proceedsKroger and Albertson's released a full list of all the stores they would sell of if their merger is approved, which includes 35 Mariano's and Jewel Osco stores in Illinois.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

35 Illinois Mariano's, Jewel stores to close if Kroger-Albertson's merger proceedsKroger and Albertson's released a full list of all the stores they would sell of if their merger is approved, which includes 35 Mariano's and Jewel Osco stores in Illinois.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Kroger, Albertsons announce stores that would be sold under mergerEleven San Diego County stores would be sold off in the proposed merger.
Source: KPBSnews - 🏆 240. / 63 Read more »

Kroger releases list of 101 Albertsons, Safeway locations it plans to offload in Arizona amid mergerKroger plans to offload more than 100 Albertsons and Safeway stores in Arizona
Source: abc15 - 🏆 263. / 63 Read more »