News Formal

Federal Government Urges Court To Block Kroger-Albertsons Merger

  • 📰 13WHAM
  • ⏱ Reading Time:
  • 47 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 63%

Business Nyheter

Kroger,Albertsons,Merger

The Federal Trade Commission (FTC) argues that the $24.6 billion merger between Kroger and Albertsons would eliminate competition and lead to higher food prices for consumers, while the supermarket chains claim it would allow them to better compete with rivals like Walmart and Amazon.

PORTLAND, Ore. - The federal government urged a U.S. District Court judge on Tuesday to temporarily prevent a proposed merger between Kroger and Albertsons, saying in closing arguments the combination would “almost certainly” benefit shareholders and not everyday shoppers.

U.S. District Judge Adrienne Nelson must now decide whether to grant the injunction while the FTC's anti-trust complaint goes goes before an in-house administrative law judge. Nelson said she would work “expeditiously” on her decision, but she didn't say when she would rule. But Wolf pushed back, saying Kroger and Albertsons were competing for the same customers as retailers that have lower labor costs because their workers aren't unionized.Kroger has said it plans to invest $1 billion in lower prices, if the merger goes through. Wolf said the company would focus on lowering prices “from day one.”

FTC attorneys have noted that the two supermarket chains currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup. Shoppers benefit from that competition and would lose those benefits if the merger is allowed to proceed, they said.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 256. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Kroger CEO defends potential Albertsons merger in federal court testimony: 'We will begin lowering prices'The $24.6 billion Kroger-Albertsons deal would be the largest grocery chain merger in U.S. history.
Källa: CBSNews - 🏆 87. / 68 Läs mer »

Kroger, Albertsons defend merger plan in federal court against US regulators' objectionsSupermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn't allowed to proceed.
Källa: ABC7Chicago - 🏆 284. / 63 Läs mer »

Kroger and Albertsons defend merger plan in federal court against regulators’ objectionsA lawyer for supermarket chain Albertsons has told a federal judge that the company might have to lay off workers and close stores if its planned merger with Kroger isn’t allowed to proceed.
Källa: adndotcom - 🏆 293. / 63 Läs mer »

Kroger vows to terminate Albertsons merger if federal judge delays its closingConnect with Dan
Källa: abc15 - 🏆 263. / 63 Läs mer »

Kroger and Albertsons prepare to make final merger plea in federal courtKroger and Albertsons were expected to present their closing arguments Tuesday in a U.S. District Court hearing on their proposed merger.
Källa: komonews - 🏆 272. / 63 Läs mer »