'At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger, the 2nd largest grocery store in America, to merge with Albertsons, the 4th largest grocery store in America,' said SenSanders.
"At a time when food prices are soaring as a result of corporate greed, it would be an absolute disaster to allow Kroger... to merge with Albertsons," said the Vermont progressive.Sen.
Thursday night, before an agreement had been reached."The Biden administration must reject this deal."Under the terms of the merger, Kroger agreed to buy Albertsons for a grand total of $24.6 billion. The price tag includes the purchase of Albertsons stock at $34.10 per share and the assumption of approximately $4.7 billion of the company's debt. As part of the transaction, Albertsons will pay its shareholders a special cash dividend of up to $4 billion next month.
Cincinnati-based Kroger trails only Walmart in grocery market share, while Boise-based Albertsons is behind Costco. As a result of Friday's acquisition, the new conglomerate is expected to
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