Kroger has bid $20 billion for Albertsons Companies Inc., or $34.10 per share. Kroger will also assume $4.7 billion of Albertsons' debt.
Two of the nation's largest grocers have agreed to merge in a deal they say would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business.
The deal will likely get heavy scrutiny from U.S. antitrust regulators, especially at a time of high food price inflation. The Justice Department and the Federal Trade Commission were already in the process ofsigned an executive orderIf approved by regulators, the deal is expected to close in early 2024.
Value chains like Aldi and Dollar General __ which have a combined 4% market share __ have also been squeezing traditional grocers like Kroger and Albertsons, particularly as red-hot inflation pushes people to cut costs. Kroger also said the combined stores would provide greater and faster access to fresh food, with a combined 66 distribution centers and 52 manufacturing plants. Together, the stores operate in 48 states and the District of Columbia.in September compared with last year, according to U.S. data released Thursday.
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