Published 1 year ago

Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senators

Summary by Ground News

The top Democrat and Republican on the Senate’s antitrust committee led a grilling of the CEOs of Kroger and Albertsons on Tuesday over their planned $25 billion grocery megamerger, which comes after months of rising inflation that has hit consumers hard.

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Times of India

Albertsons, Kroger CEOs defend $25 billion merger to U.S. Senate committee

Albertsons: Kroger Chief Executive Rodney McMullen sought to allay lawmakers' worries about the planned purchase of a big rival, noting that the merged firms would still be much smaller than Walmart Inc, the country's top grocer. "The combined company will remain at number four," he said.

1 year ago·India

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Reuters

Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senators

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.

1 year ago·United Kingdom

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CNN

Kroger and Albertsons want to create a grocery empire. The last supermarket mega-merger backfired

When Christine Martinez found out last month that Kroger and Albertsons planned to merge in a deal worth nearly $25 billion, she thought, "here we go again."

1 year ago·Atlanta, United States

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CNBC

Kroger, Albertsons CEOs Defend Grocery Tie-Up, Say Deal Won't Hurt Competition

Leaders of the two companies faced questions about how the deal could shake up the competitive landscape — and the prices consumers pay at the store.

1 year ago·United States

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The Hill

Senators grill Kroger and Albertsons CEOs over grocery mega-merger

The top Democrat and Republican on the Senate’s antitrust committee led a grilling of the CEOs of Kroger and Albertsons on Tuesday over their planned $25-billion grocery mega-merger, which comes after months of rising inflation that has hit consumers hard. “The companies assure us that this is the merger that will make everything better,” said…

1 year ago·Washington, United States

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The Business Journals

Kroger, Albertsons execs make case for mega-merger before Senate subcommittee

Kroger Co. CEO Rodney McMullen and his counterpart from rival Albertsons Cos., the supermarket company Kroger plans to acquire, made their case before a U.S. Senate subcommittee Nov. 28 that the deal won’t cause antitrust issues while facing a barrage of questions from senators.

1 year ago·United States

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