Kroger and Albertsons are headed to court for a hearing that will likely determine the fate of their $24.6 billion merger.
Dallas Business Journal’s Post
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The largest supermarket merger in history may not be happening at all. Julie Creswell reports that the FTC is now suing to block the Kroger-Albertsons Grocery Store deal citing that it would eliminate competition and raise prices for consumers. What are your thoughts on this possible merger? And what implications do you think this might have for future mergers of the same size? At Michael Best & Friedrich LLP. #MergersAndAcquisitions #BusinessGrowth #Legal
F.T.C. Sues to Block Kroger-Albertsons Grocery Store Deal
https://www.nytimes.com
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An article by AP discusses the FTC's stance on the 24.6B Kroger-Albertsons proposed merger. While Kroger and Albertsons aimed to complete the largest supermarket merger in our country's history, plans have been put on hold because the FTC filed an administrative complaint. In terms of what the merger could mean for consumers, the government has raised several concerns. I am interested to hear your thoughts on the potential merger. #Merger #FTC #Consumers
Why does the US government think a Kroger-Albertsons merger would be bad for grocery shoppers?
apnews.com
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Kroger said it plans to lower prices and provide more fresh, affordable choices following its proposed merger with Albertsons Companies. The Company indicated that it has lowered prices following its previous mergers. For instance, it said it invested more than $125 million to lower prices at Harris Teeter after its merger in 2014 and more than $100 million to lower prices at Roundy's after its merger in 2016. Additionally, Kroger invested $2.50 billion and $2.40 billion in capital per Harris Teeter and Roundy's store, respectively, to enhance the customer experience in the three years following each merger. Looking to the proposed merger with Albertsons, Kroger said it will invest $500 million to lower prices and invest $1.30 billion to improve Albertsons' stores. Colorado Attorney General Phil Weiser announced last week that the state is suing to block the Kroger-Albertsons merger. Kroger operates 148 King Soopers and City Market stores and Albertsons operates 105 Safeway and Albertsons stores in Colorado. Colorado joins several other states and Washington D.C. which are also suing to block the merger. Weiser stated, "Coloradans are concerned about undue consolidation and its harmful impacts on consumers, workers, and suppliers. https://lnkd.in/eFBS-Hnj
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🛒 Our #grocery experts are in the know! Our own #RetailStat AVP, Michael Infranco, shared insights with Grocery Dive about the revised divestiture plan in the Kroger and Albertsons Companies merger. It's a clear effort to address FTC concerns. #DataDrivenInsights #MergersAndAcquisitions #RetailAnalysis #FTCConcerns #GroceryExperts #Retail
Will Kroger and Albertsons’ revised divestiture plan satisfy the FTC?
grocerydive.com
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Kroger and Albertsons Companies have delayed the timeline for their proposed merger, anticipating the completion of the deal in the first half of Kroger's upcoming fiscal year, which begins February 4. Learn more here: https://lnkd.in/eMTNJAeZ #innovation #business #leadership #markets #venturecapital #ivesting #finance
Kroger and Albertsons delay merger timeline
grocerydive.com
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WA Attorney General’s 43 page complaint (Feb 12) re Albertsons/Kroger alleges the merger will increase the prices of groceries, remove a robust competitor, and the divestiture package “bears striking resemblance” to $ACI’s failed divestiture in connection to its 2015 Safeway acquisition. $KR on Feb 13 said it will lower prices after the #merger. "We believe the way to be America's best grocer is to provide great value by consistently lowering prices and offering more choices. When we do this, more customers shop with us and buy more groceries, which allows us to reinvest in even lower prices, a better shopping experience, and higher wages," said Rodney McMullen, chairman and CEO of Kroger. "We know this model works because we've been doing it successfully for many years, and this is exactly what this merger will bring customers – lower prices and more fresh, affordable choices." #FTC decision on the proposed transaction expected later this month.
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This merger is starting to feel like the story that takes a decade, not the story of the year. Lost time, and focus, may be Kroger’s biggest expense in this merger. Whether the deal closes or not, the Kroger executive team will have spent years focused on the merger, and winning the court cases, and not innovation and customer experience. Hopefully, both chains are still relevant when the final decision is made. Interested in keeping this conversation going? Drive Wheel is forming a Kroger Sales Peer Group and we're saving a space for you! #drivewheel #peergroups #kroger #albertsons #mergers #ftc #plma #discussions
Federal Trade Commission sues to block Kroger, Albertsons merger
abcnews.go.com
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Kroger and Albertsons have moved back the anticipated date of their merger to the opening half of the former fiscal 2024 after receiving opposition to the deal. #kroger #albertsons #food #foodindustry #foodindustryinsight #foodnews #foodbusiness #foodbusinessnews #foodbusinessowner #foodmanufacturing #foodanddrink #foodandbeverage #foodandbeverages #foodanddrinks #foodanddrinkindustry #foodprices #foodproducts #foodproduction #foodinflation #acquisitions #acquisition #mergersandacquisitions
Kroger, Albertsons push back expected closing date for merger
just-food.com
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Kroger, Albertsons Companies, and C&S Wholesale Grocers pushed back its anticipated merger closing timeframe from early 2024 to as late as September 2024 and issued the following joint statement: "We remain in active and ongoing dialogue with the Federal Trade Commission and individual state Attorneys General regarding our proposed merger and divestiture plan...We remain committed to closing the transaction and providing the meaningful and measurable benefits that we promised when we originally announced the transaction." #mergersandacquisitions #grocery #kroger #groceryindustry #retail #retailnews #retailstat
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