Top executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern.
, which would bring nearly 5,000 stores under one corporate umbrella, ranging from Safeway to Ralphs and Fred Meyer.
The companies have said they expect to sell between 100 and 375 stores to allay government concerns. Ideally, they would like to find buyers for the facilities but could also put them into a new company that would be owned by Albertsons' shareholders. UBS has said it believes the plan will satisfy antitrust enforcers.
This plan could force the FTC, which is probing the deal to make sure it is legal under antitrust law, to not only prove in court that the transaction is illegal but that the proposed remedy is inadequate.widely criticized plan to give Albertsons' shareholders a $4 billion dividend payment. A Washington state court put that plan on hold with the next hearing set for Dec. 9. Separately, the attorneys general of Washington, D.C.; California and Illinois have also sued to stop that payment, arguing it would weaken the company's ability to compete.Diane BartzFocused on U.S.
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