Two of the nation’s largest grocers have agreed to merge in a deal they say would help them better compete with Walmart, Amazon and other major companies that have stepped into the grocery business.
The deal will likely get heavy scrutiny from U.S. antitrust regulators, especially at a time of high food price inflation. If approved, the deal is expected to close in early 2024.
Goldman said a stronger combined company could possibly help tame food price inflation, since it would have more power to reject food producers’ price increases. But critics questioned a merger at a time of high food price inflation. Food prices rose 13% in September compared with last year, according to U.S. data released Thursday.
It was no secret that Albertsons was thinking about selling the company. The chain announced in February that its board was reviewing options to enhance shareholder value, including developing new businesses or a sale.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
McDonald’s set to launch five new menu items in October - but two items are leavingMcdDonald’s set to launch five new menu items in October 2022 - but two staples will be removed as a result
Read more »
To deal with miscarriage trauma, I'm spending my maternity leave travelling'People often say our kids won’t remember this and while that may be true, we will forever remember Audie wheeling his cars around the Acropolis and learning to swim in the Aegean.' ✍️ Simone Rogers writes for MetroOpinion
Read more »
Liverpool dock workers to stage two more weeks of strikesThe dockers are in an ongoing dispute with port owner Peel Holdings over pay and proposed job cuts.
Read more »
Pervert who raped two women handed a life sentenceA pervert who raped two women was handed a life sentence.
Read more »
Two dads 'shoot each other's young daughters' in road rage rowWho could do this to there own daughters? Two dads have been arrested for attempted murder after they allegedly shot one another’s daughters in a road rage row.
Read more »
Suspect in Leah Croucher murder killed himself two months after she vanishedNeil Maxwell is thought to have been the only person with keys to the house where remains were found near the 19-year-old’s possessions while the owners were away.
Read more »