PUBLISHED 8:53 AM EST Nov. 30, 2022CEOs of Kroger and Albertsons said a merger will help them counter growing rivals like Walmart, Costco and AmazonThat payout is temporarily on hold after a state judge in Washington said he needed more time to consider the matter
Kroger CEO Rodney McMullen said the days of shoppers buying all their groceries at one store once a week are gone. Shoppers often get their groceries at five or six different locations, he said. Sen. Mike Lee, a Utah Republican, noted the subcommittee would have little say in whether the merger will go through. That will be a decision for the Federal Trade Commission and the Justice Department. But he said the hearing was an important opportunity for the public to understand a merger that could impact their lives.
But McMullen said Kroger has lowered prices after other mergers, like its 2013 acquisition of Harris Teeter.McMullen reiterated Kroger’s plan to spend $500 million reducing prices, $1.3 billion updating Albertsons stores and $1 billion on higher employee wages and improved benefits if the merger goes through.
“The intent is not to close stores. The intent is to divest stores,” Albertsons President and CEO Vivek Sankaran said. Sankaran said the FTC approved the buyer in that merger. This time, he said, Albertsons __ pending the FTC’s approval __ may spin off stores into a separate company that would be led by experienced leaders.
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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.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »
Kroger and Albertsons CEOs head to Capitol Hill for merger hearingThe Senate is holding a hearing today on Kroger's proposed $24.6B purchase of rival Albertsons. Here's what to know. TheDemocrats we do NOT need another huge Monopoly NO! We don't need fewer grocery store owners w/just a bunch of different names, giving the illusion of competitioin. EndMonopolies FTC NO MORE MONOPOLIES Honor Antitrust laws!!!!
출처: axios - 🏆 302. / 63 더 많은 것을 읽으십시오 »
Albertsons, Kroger CEOs to defend $25B merger to skeptical senatorsTop executives at Kroger and Albertsons are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern. Lawmakers are far more responsible for inflation than anything that Kroger and Albertsons could do. And lawmakers have had nothing to do with inflation? Look in the mirror.
출처: KSLcom - 🏆 549. / 51 더 많은 것을 읽으십시오 »
Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »
Albertsons, Kroger CEOs defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation.
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »