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The FTC’s suit to challenge the Kroger-Albertsons tie-up is the latest in a long list of moves taken by the Biden administration to block consolidation across industries, from Big Tech to ...
Kroger Co (NYSE: KR) reported second-quarter FY22 sales growth of 9.2% year-on-year to $34.64 billion, beating the consensus of $34.25 billion. Identical Sales without fuel increased by 5.8%.
Kroger's $24.6-billion acquisition of Albertsons is the largest proposed supermarket merger in U.S. history. The FTC sues, alleging the deal is anti-competitive.
Kroger-Albertsons merger. In October 2022, Kroger announced that it was buying grocery store chain Albertsons in a deal that valued the company at $24.6 billion. [1] On November 29, 2022, the chief executives of the two companies went before the antitrust panel of the Senate Judiciary Committee to defend the merger. [2]
Kroger said in a statement Monday that it’s committed to investing $500 million on cost reductions as soon as the merger closes, and cited its “long track record of reducing prices every year ...
Kroger (KR) closed the most recent trading day at $43.45, moving +1.49% from the previous trading session.
NEW YORK (Reuters) -Six U.S. lawmakers wrote to the Federal Trade Commission (FTC) on Monday expressing their opposition to the proposed $24.6-billion acquisition of grocery chain operator ...
February 26, 2024 at 5:47 PM. The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.6 billion deal would eliminate competition ...