On Monday, Albertsons, the parent company of Jewel-Osco, told a federal judge that it might have to lay off workers, close stores and even exit some markets if the merger isn't permitted to move forward.- a union that regulators argue would eliminate competition and raise grocery prices in a time of already high food price inflation.
On Monday, Albertsons, the parent company of Jewel-Osco, told a federal judge that it might have to lay off workers, close stores and even exit some markets if the merger isn't permitted to move forward.in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal. The FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge.
The divestment sale is meant to convince regulators to allow the merger to move forward, though the lawsuit by the FTC remains ongoing. The stores that will be part of the divestment sale will not close, according to the companies, and existing collective bargaining agreements would still be honored under the arrangement.Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyAlbertsons currently operates 188 Jewel-Osco locations in Illinois, Indiana and Iowa, while Kroger operates an unspecified number of locations in Illinois under its own banner.
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