The hearing will refocus the spotlight on a merger that has sparked opposition from lawmakers, labor unions and consumer groups.
and deciding whether it should be approved. Kroger and Albertsons, which have said they expect to close the deal in early 2024, are the two biggest traditional supermarket operators in the US. But in terms of where shoppers actually buy groceries, Kroger ranks second in market share after Walmart Inc., while Albertsons is fourth after Costco Wholesale Corp., according to Numerator, a market-research company that compiles consumer data.
Selling stores to other companies is an option for Kroger and Albertsons. Another is spinning them off into a new company. But the FTC under Chair Lina Khan has become increasingly skeptical of that type of merger remedy. Another likely theme at the hearing is the deal’s impact on customers, employees and suppliers — especially in regions where Kroger and Albertsons overlap heavily. Those areas include parts of Illinois, Texas, Arizona, Nevada, Colorado and California.
There again, evidence from Albertsons’ Safeway deal will be important, said Joel Mitnick, an antitrust attorney from the law firm Cadwalader, Wickersham & Taft.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Read more »
Albertsons, Kroger CEOs defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation.
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
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.
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
Read more »
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.
Read more »