Article 6SV98 US judge blocks nearly $25bn Kroger-Albertsons grocery chain merger

US judge blocks nearly $25bn Kroger-Albertsons grocery chain merger

by
Reuters
from on (#6SV98)

Judge sides with FTC that merger would lead to higher prices and less bargaining leverage for union workers

A US judge blocked the pending $25bn merger of US grocery chains Kroger and Albertsons on Tuesday, siding with the Federal Trade Commission (FTC) in a win for the Biden administration.

The FTC argued at a three-week trial in Portland, Oregon, that the merger would eliminate head-to-head competition between the top two traditional grocery chains, leading to higher prices for shoppers and reduced bargaining leverage for unionized workers.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://www.theguardian.com/us-news/rss
Feed Title
Feed Link http://www.theguardian.com/
Reply 0 comments