FTC checks Kroger on 25 billion Merger
2022.12.06 09:11
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FTC checks Kroger on 25 billion Merger
Budrigannews.com – Kroger (NYSE:) As part of the regulatory review process for its planned $25 billion merger with Albertsons Companies Inc., which was announced in mid-October, Co said on Tuesday that it received a request for additional information from the U.S. Federal Trade Commission.
Concerns that the tie-up of the No. In the United States, 1 and 2 independent grocery stores could stifle competition and raise already high food prices.
Late in November, Kroger’s top boss Rodney McMullen told the U.S. Senate committee that the combined company would still be much smaller than Walmart (NYSE:). The chief executives of both companies defended the merger.
According to Kroger, the FTC’s request extends the required waiting period by 30 days after the businesses have “substantially complied” with the requests.
The business added that it still anticipates closing the deal in early 2024.
