A PYMNTS Company

US Senate Panel To Hold Antitrust Hearing On Kroger’s Albertsons Buy

 |  October 18, 2022

A US Senate antitrust panel is expected to announce that it will hold a hearing on Kroger’s $25 billion planned acquisition of Albertsons.

The antitrust panel may be announced as early as Tuesday, according to a Reuters reportIt wasn’t immediately when the panel, a subcommittee of the judiciary committee led by Amy Klobuchar (D-MN) and Mike Lee (R- UT), would hold the hearing on the transaction. 

A potential hearing comes as analysts and investors have been skeptical of the mega supermarket deal since it was announced on Friday as it combines some of the largest grocery store chains in the country.

On Monday Guggenheim analyst John Heinbockel cut Albertsons (ACI) to buy from neutral, noting that the next 18 months could be tumultuous. Similarly, Oppenheimer analyst Rupesh Parikh indicated that investors would be best served waiting out the regulatory review period.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.