FTC Sues to Block Kroger-Albertsons $24.6 Billion Grocery Store Merger
The Federal Trade Commission and several state attorneys general on Monday sued to block Kroger, the supermarket giant, from completing its $24.6 billion acquisition of the grocery chain Albertsons, saying the deal would hurt competition in the industry.The agency said the deal, which would be the largest supermarket merger in U.S. history, would most likely result in higher prices for groceries for consumers and, with fewer supermarkets, reduce the ability for grocery-store employees to negotiate higher wages and better working conditions.“This supermarket mega-merger comes as American consumers have seen the cost of groceries rise steadily over the past few years,”…
