Albertsons, Kroger CEOs Defend $25 Billion Merger to U.S. Senate Committee
WASHINGTON (Reuters) – Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co and Albertsons Companies Inc on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices.
Senator Amy Klobuchar, a Democrat and chair of the Senate Judiciary Committee’s antitrust subcommittee, said she worried the deal would mean a loss of competition in groceries, and potentially higher costs, at a time when inflation is already high.
“That’s why you’ve heard concern across the country about this transaction,” she said. The deal will be reviewed by the Federal Trade Commission to ensure it is legal under antitrust law….