The Federal Trade Commission and a bipartisan group of state attorneys general joined forces Monday on a lawsuit aimed at blocking the supermarket giant Kroger from buying up the Albertsons grocery chain, warning the merger would hamper competition, further drive up food prices, and harm workers. If completed, the $24.6 billion deal would mark the largest supermarket merger in U.S. history at a time when grocery chains are facing growing scrutiny for driving up prices to pad their bottom lines.
And it would have hurt retail workers by giving the combined companies even more leverage to push down wages and dictate terms.' Grocery prices have outpaced overall inflation in the U.S. over the past four years, surging by roughly 25%—and they remain stubbornly high even as inflation has fallen substantially from its peak of 9.1% in the summer of 2022.
Source: News Formal (newsformal.com)
Albertsons American Economic Liberties Project Corporate Power Federal Trade Commission Institute For Local Self-Reliance Kroger Lina Khan Kroger-Albertsons Merger
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