Reported 1 day ago
A U.S. judge has blocked Kroger's proposed $25-billion merger with Albertsons, siding with the Federal Trade Commission's argument that the deal would reduce competition, raise grocery prices, and harm workers' bargaining power. The ruling is seen as a significant victory for antitrust enforcement under the Biden administration amidst rising food costs, with both companies expressing disappointment and considering their next steps. The ruling follows a trend of increasing scrutiny over large corporate mergers in the grocery industry.
Source: YAHOO