Antitrust regulator The Federal Trade Commission filed a lawsuit Monday in an attempt to spike Kroger’s proposed $25 billion takeover of rival grocer Albertons.
Antitrust regulator The Federal Trade Commission filed a lawsuit Monday in an attempt to spike Kroger’s long-running attempt to buy rival grocer Albertsons, claiming the merger of the two major grocers would result in higher prices for shoppers and lower wages for workers.
In a release, the FTC claimed the deal would hurt supermarket competition for shoppers and workers and ultimately lead to higher grocery prices, impacting consumers and depressing employee wages.
As result the FTC said that it had issued an administrative complaint and authorized a lawsuit in federal court .
“(The) Kroger’s KR acquisition of Albertsons ACI would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today. Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating,” said FTC’s Bureau of Competition Director Henry Liu said in the statement.
