Some state attorneys general join the effort to stop Kroger from merging with Albertsons.
Nine state attorneys general joined a lawsuit with the Federal Trade Commission (FTC) this week to block Kroger’s $24.6 billion purchase of the Albertsons grocery chain, viewing the merger as anticompetitive. Kroger and Albertsons maintain that the merger is necessary to keep up with huge companies like Amazon and Walmart, which have increasingly encroached on the grocery industry.
The FTC and the attorneys general of Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, New Mexico, Oregon, and Wyoming said that local workers and consumers are concerned about how further consolidation could impact their communities.
“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,” the FTC’s Bureau of Competition Director Henry Liu stated.
The grocery chains stated that higher prices and store closures are likely if the merger does not proceed.
As the Lord Leads, Pray with Us…
- For Director Liu to be directed by God’s as he heads the FTC’s Bureau of Competition.
- For Chair Khan and members of the FTC as they seek to maintain competition in the U.S. marketplace.
- For the attorneys general as they work to prevent the cost of living rising further for their constituents.
Sources: The Hill, AP
