A private lawsuit filed in California on Thursday seeks to stop Kroger Co.’s planned $25 billion purchase of rival Albertsons Companies Inc., a deal that state attorneys general, consumer groups and some U.S. lawmakers have questioned as harmful to competition in the grocery market. The lawsuit was filed on behalf of 25 consumers in states…
Albertsons, Kroger CEOs Defend $25 Billion Merger to U.S. Senate Committee
WASHINGTON (Reuters) – Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co and Albertsons Companies Inc on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. Senator Amy Klobuchar, a Democrat and chair of the Senate Judiciary Committee’s antitrust subcommittee, said she worried the…
Albertsons, Kroger CEOs Defend $25 Billion Merger to Senate Committee
WASHINGTON—Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co. and Albertsons Companies Inc. on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. Senator Amy Klobuchar, a Democrat and chair of the Senate Judiciary Committee’s antitrust subcommittee, said she worried the deal would mean…
Bonta Urges Albertsons to Delay $4 Billion Investor Payout Until After Merger Review
LOS ANGELES—California Attorney General Rob Bonta and other state attorneys general Oct. 26 sent a letter demanding that Albertsons delay a $4 billion payout to stockholders until state and federal regulators complete their review of its proposed merger with Kroger. Albertsons and Kroger employ more than 700,000 workers in communities across the country. The state…
Kroger, Albertsons Announce $25 Billion Merger Deal
LOS ANGELES—Grocery giants Kroger and Albertsons have confirmed a merger agreement that would create a mega-chain of about 5,000 stores across the nation, assuming the deal escapes an antitrust review from federal regulators. Under the deal announced Oct. 14, Kroger—the parent company of Ralphs—will obtain Albertsons Cos. for roughly $25 billion. According to Kroger, the…
Kroger Seeks to Create Grocery Giant in $20 Billion Albertsons Bid
Two of the nation’s largest grocers have agreed to merge in a deal they say would help them better compete with Walmart, Amazon, and other major companies that have stepped into the grocery business. Kroger on Friday bid $20 billion for Albertsons Companies Inc., or $34.10 per share. Kroger will also assume $4.7 billion of…
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