Kroger, Albertsons CEOs to Speak at Senate Hearing Regarding $25 Million Merger

Top executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers’ planned $25 billion merger will push up food prices at a time when inflation is a concern.

Kroger Chief Executive Rodney McMullen and Albertsons’ chief, Vivek Sankaran, will go before the Senate Judiciary Committee’s antitrust panel, some of whose members have already criticized the deal.

Senators Amy Klobuchar, chair of the Senate antitrust panel, and Richard Blumenthal were among those who signed a letter to Federal Trade Commission Chair Lina Khan, saying the merger “raises considerable antitrust concerns.”

Read the source article at finance.yahoo.com