Kroger CEO Rodney McMullen and Albertsons' top executive, Vivek Sankaran, will face questions this week on plans for the two giant grocery companies to merge in a $25 billion deal, Senator Amy Klobuchar's office said in a statement.
top executive, Vivek Sankaran, will face questions this week on plans for the two giant grocery companies to merge in a $25 billion deal, Senator Amy Klobuchar's office said in a statement.
The hearing was called by Klobuchar along with Senator Mike Lee, the top Republican on an antitrust panel of the Senate Judiciary Committee. Klobuchar chairs the subcommittee. "The hearing will examine the impact of the proposed merger of Kroger and Albertsons, the two largest grocery chains in the country," the statement said.
The FTC is expected to aggressively review the deal to ensure it complies with antitrust law. To counter criticism, the companies said they plan to divest some stores and Albertsons said it was ready to spin off a standalone unit to its shareholders immediately before the deal's close, likely in early 2024. The new public company is estimated to comprise as many as 375 stores.
The mega merger between the No. 1 and 2 standalone grocers in the United States would bring under one roof nearly 5,000 stores that include banners such as Albertsons' Safeway and Kroger-owned Ralphs and Fred Meyer.Reporting by Diane Bartz; Editing by Cynthia OstermanFocused on U.S.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Elon Musk personally called CEOs of companies that pulled Twitter adsElon Musk personally called CEOs of companies that stopped advertising on Twitter to complain, report says
Leer más »
7 CEOs on the ‘Innovative' and ‘Timely' Books Everyone Should Read This WinterFrom inspirational non-fiction to deep-dives on the latest trends in business, consider these titles to expand your reading list.
Leer más »
Top 100 CEOs speak from the heart about what leadership means to themIt’s a simple fact. Employees want to be led. Another simple fact? They don’t want to be dictated to. When Elon Musk said my way or the highway, more than a...
Leer más »
Climb Hire CEO Nitzan Perlman refused to hire ‘white people’: lawsuitA black executive who was canned after he warned his boss that she couldn’t refuse to hire white people, he claims in a lawsuit.
Leer más »
Binance CEO: Most Governments Understand Crypto Adoption Will Happen Regardless – Regulation Bitcoin NewsBinance CEO Changpeng Zhao (CZ) says that most governments know that crypto adoption will happen regardless of what they do. cryptocurrency bitcoin
Leer más »
Volkswagen CEO says clunky infotainment overhaul starts now - AutoblogVolkswagen brand chief Thomas Schäfer said that the uproar from buyers and testers had gotten so bad, VW is overhauling its MIB infotainment. Here's how.
Leer más »