Salem Radio Network News Wednesday, March 22, 2023

Business

Albertsons, Kroger reiterate store divestiture plan ahead of merger

(Reuters) -Albertsons Companies Inc reiterated in a filing on Tuesday it would divest some stores owned by the company and Kroger Co to obtain the regulatory clearance needed to go ahead with the merger of the two firms.

Last month, Reuters reported citing sources that the supermarket operators were advancing plans to sell between 250 and 300 stores, which they hope would alleviate U.S. antitrust concerns over their combination.

The Federal Trade Commission (FTC), which is reviewing Kroger’s proposed $24.6 billion acquisition of Albertsons, is under pressure from some U.S. lawmakers and consumer advocacy groups to block the deal on concerns it may lead to higher grocery prices.

(Reporting by Ananya Mariam Rajesh in Bengaluru)

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