Proposed Kroger, Albertsons merger will take more time to close as scrutiny continues
Publishing timestamp: 2024-01-15 19:12:24
Summary
The proposed merger between Kroger and Albertsons is expected to close in the first half of Kroger's fiscal year 2024 instead of early this year. Ongoing discussions with federal regulators have delayed the deal's close. Kroger plans to divest stores and distribution centers to C&S Wholesale Grocers as part of the deal. The merger has faced opposition from U.S. lawmakers and political leaders due to antitrust concerns. Washington state's attorney general has filed a lawsuit to block the merger. Kroger and Albertsons argue that blocking the merger would strengthen larger retailers like Walmart, Costco, and Amazon.
Sentiment: MIXED
Keywords: retail industry, business news, kroger co, food and drink, albertsons companies inc, grocery store operators, grocery shopping, business,
Source: https://www.cnbc.com/2024/01/15/proposed-kroger-albertsons-merger-will-take-more-time-to-close.html