Supermarket chains Kroger and Albertsons said Monday they will sell more of their stores in an effort to quell the federal government’s concerns about their proposed merger.
The companies now plan to sell 579 Kroger and Albertsons stores in markets where they overlap to C&S Wholesale Grocers, a New Hampshire grocery supplier and operator, for $2.9 billion. Under the initial divestiture plan, announced in September, C&S had planned to purchase 413 stores for $1.9 billion.
It’s unclear if the new plan will satisfy regulators. In February, the U.S. Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants, saying the lack of competition would lead to higher grocery prices and lower wages for workers.
The FTC also said the initial plan to divest 413 stores to C&S was “inadequate” and would give C&S a hodgepodge of unconnected stores and brands, leaving it ill-equipped to compete with a combined Kroger and Albertsons.
Related articles:
Related suggestion:
Bohm and Harper lead the streaking Phillies to a sweep of the Nationals with 11Kyle Larson arrives at North Wilkesboro for NASCAR AllA man killed by Phoenix police in a shootout was a suspect in a fatal shooting hours earlierPacers score 39 points in first quarter vs. Knicks to set a Game 7 recordA man killed by Phoenix police in a shootout was a suspect in a fatal shooting hours earlierElizabeth Debicki cuts a chic figure in sheer lace blouse as she promotes The Crown in Los AngelesElizabeth Debicki cuts a chic figure in sheer lace blouse as she promotes The Crown in Los AngelesPAOK beats Aris 2Tucker homers twice, ties for lead with 15 as Astros beat Brewers 9Dive team finds bodies of 2 men dead inside plane in Alaska lake
2.8326s , 6499.3203125 kb
Copyright © 2024 Powered by Kroger, Albertsons — still hoping to merge — agree to sell more stores to satisfy regulators ,Worldly Winds news portal