Kroger has received a second request for information from the Federal Trade Commission on its $24.6 billion deal to acquire Albertsons, potentially dragging out the mega-merger approval process.
Kroger said Tuesday that the second request extends the initial 30-day waiting period for an antitrust review following the filing of a merger transaction with the FTC and Department of Justice antitrust division under the Hart-Scott-Rodino Antitrust Improvements Act (HSR).
The request for more information on the proposed Kroger-Albertsons merger, unveiled by the two grocers on Oct. 14, signals that the FTC holds significant antitrust concerns and seeks a much deeper investigation, which could extend the review by months and the time to finalize the transaction by a year.
Read more: Kroger, Albertsons Unions Ask FTC To Block Deal
Kroger and Albertsons have said they expect to close the deal in early 2024, pending federal and state regulatory approval and other customary closing conditions.
“Kroger looks forward to realizing the compelling benefits this merger will offer, including enhancing competition, lowering prices for customers, improving access to fresh food, creating opportunities to continue investing in our associates and securing the long-term future of union jobs,” Cincinnati-based Kroger said in a statement on Tuesday. “We will continue to work cooperatively with the Federal Trade Commission as it conducts its review of the merger, including developing a thoughtful divestiture plan. Kroger continues to expect to complete the merger in early 2024.”
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI