Kroger and Albertsons defend merger plan in federal court against U.S. regulators'' objections
PORTLAND, Ore. — Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn''t allowed to proceed. The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices in a time of already high food price inflation . In the three-week hearing that opened Monday, the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge. “This lawsuit is part of an effort aimed at helping Americans feed their families," the FTC''s chief trial counsel, Susan Musser, said in her opening arguments on Monday. Musser said Kroger and Albertsons currently compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup.
https://chicago.suntimes.com/business/2024/08/26/kroger-albertsons-merger-federal-court-ftc-labor-consumers-inflation-food-grocery-competition