US lawmakers skeptical grocery merger will mean lower prices

  • 📰 DenverChannel
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

U.S. senators from both parties have expressed skepticism that a proposed merger between grocery giants Kroger and Albertsons will lower prices for consumers

They told a hearing that a merger will help them counter growing rivals like Walmart, Costco and Amazon.

Lawmakers said the combined company will have to divest stores in places where they compete, which will likely raise prices. But Kroger's CEO said it has lowered prices after past mergers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Probably because monopolies always screw over customers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 239. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 peopleā€¦ and small farmers too. I blame Earl Butz.
Source: Reuters - 🏆 2. / 97 Read more »

UFCW Local 7 president, members in D.C. ahead of Kroger-Albertsons merger hearingKim Cordova, president of UFCW Local 7, which represents King Soopers and Safeway workers in Colorado, worries the merger could result in job losses and store closures. via PattrikPerez
Source: DenverChannel - 🏆 239. / 63 Read more »

Kroger, Albertsons Expected to Defend Grocery Merger at Senate HearingThe CEOs of Kroger and Albertsons will likely face questions on how their companies' proposed merger would affect competition and shoppers during a Senate hearing Is it crazy to think that these 2 kinda need this merger? They lose ground all the time to places like WalMart, Aldi and others. Your reminder that post merger the company will have less than 14% of the national grocery market. Proud as punch that her country is bombing innocent children..KARMA
Source: WSJ - 🏆 98. / 63 Read more »

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!!!!
Source: axios - 🏆 302. / 63 Read more »

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.
Source: KSLcom - 🏆 549. / 51 Read more »

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.
Source: Reuters - 🏆 2. / 97 Read more »