Cincinnati-based grocery chain Kroger announced an agreement to purchase Boise-based competitor Albertsons for $24.6 billion. The deal is pending approval from regulators, but the merger would result in the combined operation of nearly 5000 stores and over 700,000 employees, making Kroger the third-largest retail chain in the US.
Kroger is seeking the merger to compete with Amazon and Walmart, who have both seen increased sales in the face of inflation.
The American Economic Liberties Project, a nonprofit group advocating for corporate accountability and antitrust regulation, says the merger would result in reduced competition and higher food prices.
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