"Kroger's and Albertsons' anti-competitive policies have harmed consumers, workers, small businesses, and the economy as a whole," the two senators wrote in a letter also signed by Rep. Jan Schakowsky.Citing the"anti-competitive and antiworker records of Kroger and Albertsons," U.S. Sens. Elizabeth Warren and Bernie Sanders, along with Rep. Jan Schakowsky, on Tuesday urged the Federal Trade Commission to oppose the supermarket giants' proposed merger.
"Throughout the pandemic and its economic aftermath, Kroger and Albertsons reported record profits and richly rewarded their shareholders and executives with bonuses and stock buybacks, even as both companies took steps to prevent workers from receiving hazard pay and boasted about their abilities to raise consumers' prices," the letter notes.
In addition, lawmakers caution that Albertsons' proposed $4 billion dividend to shareholders may weaken Albertsons' ability to compete regardless of whether the acquisition is finalized and may constitute"gun jumping," a form of collusion illegal under the Sherman [Antitrust] Act. Kroger and Albertsons are currently the country's second- and fourth-largest grocers, respectively. As, the two companies"have a combined 5,000 stores and 710,000 workers in the U.S., with dozens of chains between them, such as Fred Meyer and Ralphs and Safeway and Jewel-Osco ."Workers at many stores under both companies are represented by the United Food and Commercial Workers union.
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