Big Law
Lawmakers Will Hold a Hearing on $25 Billion Kroger Deal
The Kroger Co.’s planned $25 billion acquisition of Albertsons Cos. will face U.S. Senate hearings over antitrust concerns, according to reports.
The Senate will hold hearings next month on the deal,Bloomberg News reported Tuesday.
Cincinnati-based Kroger (NYSE: KR) and Boise, Idaho-based Albertsons (NYSE: ACI) on Oct. 14 announced their agreement to combine the nation’s two largest operators of traditional supermarkets. Kroger is the largest; it is also the second-largest retailer by grocery market share, behind only Walmart Inc. (NYSE: WMT). Albertsons ranks fourth in grocery market share, with warehouse membership store chain Costco Wholesale Corp. (Nasdaq: COST) placing third.
