US sues to block Kroger-Albertsons merger
The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
What happened?
The Federal Trade Commission sued Monday to block the $24.6 billion merger between grocery giants Kroger and Albertsons. Nine states joined the lawsuit, filed in U.S. District Court in Oregon. The combination of Kroger and Albertsons and their several brands would be the largest grocery merger yet.
Who said what?
"Kroger's acquisition of Albertsons would lead to additional grocery price hikes for everyday goods," said Henry Liu, the director of the FTC's Bureau of Competition. The merger would "ensure our neighborhood supermarkets can better compete" with "mega retailers" like Walmart, Costco and Amazon, Albertsons said, "benefiting our customers," workers and communities.
The commentary
The lawsuit "shows that the FTC understands how the outsized power of big retailers is damaging the entire food system," said Stacy Mitchell at the Institute for Local Self-Reliance.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
A federal judge in Oregon will first decide whether to grant the FTC's request for a preliminary injunction, then "how much competition is lost to the merger," The Wall Street Journal said. Kroger and Albertsons hoped to close this year.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Climate change is threatening Florida's Key deer
The Explainer Questions remain as to how much effort should be put into saving the animals
By Justin Klawans, The Week US Published
-
Daniel Lurie: San Francisco's moderate next mayor
In the Spotlight Lurie beat a fellow Democrat, incumbent Mayor London Breed, for the job
By Justin Klawans, The Week US Published
-
TV to watch in November, from 'Dune: Prophecy' and 'A Man on the Inside'
The Week Recommends A new comedy from 'The Good Place' creator, a prequel to 'Dune' and the conclusion of one of America's most popular shows
By Anya Jaremko-Greenwold, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
The rise and fall of Tupperware
Under The Radar The byword for food storage has filed for bankruptcy – was it a victim of its own success?
By Chas Newkey-Burden, The Week UK Published
-
It's not your imagination — restaurant reservations are becoming harder to get
In the Spotlight Bots, scalpers and even credit card companies are making reservations a rare commodity
By Justin Klawans, The Week US Published
-
Ghost kitchens are pulling a disappearing act
under the radar The delivery-only trend is failing to live up to the hype built up during the pandemic
By Theara Coleman, The Week US Published
-
How will the FTC's ban on noncompete agreements affect the workforce?
The explainer Short answer: Competition will only get fiercer
By Devika Rao, The Week US Published