before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation.
Added Albertsons' CEO, Vivek Sankaran, according to written remarks: "I’d like to add that this transaction is good forIn their opening remarks, Senators Amy Klobuchar, a Democrat and subcommittee chair, and Mike Lee, the top Republican on the panel, both pointed to Albertsons' 2015 purchase of Safeway as a cautionary tale for the proposed merger.
. U.S. consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months. Food prices increased 0.6%. The companies have said they expect to sell between 100 and 375 stores to allay government concerns. Ideally, they would like to find buyers for the facilities but could also put them into a new company that would be owned by Albertsons' shareholders. UBS has said it believes the plan will satisfy antitrust enforcers.
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