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Antitrust regulator The Federal Trade Commission filed a lawsuit Monday to kill Kroger's proposed $25 billion takeover of rival grocer Albertons.
The FTC claimed the deal would hurt supermarket competition for shoppers and workers and ultimately lead to higher grocery prices that would hurt consumers and depressed wages that would hit employees.
“(The) Kroger’s acquisition of Albertsons would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today,” said Henry Liu, director of the FTC’s Bureau of Competition, in a statement. “Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating.”
Eight states and the District of Columbia joined the FTC in the lawsuit filed in the U.S. District Court in Oregon.
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The FTC claimed the deal would hurt supermarket competition for shoppers and workers and ultimately lead to higher grocery prices that would hurt consumers and depressed wages that would hit employees.
“(The) Kroger’s acquisition of Albertsons would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today,” said Henry Liu, director of the FTC’s Bureau of Competition, in a statement. “Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating.”
Eight states and the District of Columbia joined the FTC in the lawsuit filed in the U.S. District Court in Oregon.
FTC sues to kill Kroger merger with Albertsons
The Kroger Albertsons merger is on hold as the FTC sues saying the deal would stifle supermarket competition and likely lead to steeper grocery prices
