FTC Asks Kroger for More Information on Albertsons' Deal
December 06 2022 - 8:55AM
Dow Jones News
By Dean Seal
Kroger Co. said Tuesday the U.S. Federal Trade Commission is
seeking more information about its planned $24.6 billion purchase
of rival Albertsons Cos. Inc.
The grocery giant said the request was expected as regulators
continue to poke around a deal that would merge two of the biggest
names in the U.S. grocery industry.
The request extends the 30-day waiting period, established under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, that
federal antitrust regulators have to challenge a merger. The window
will now remain open until 30 days after both Kroger and Albertsons
have complied with the requests, unless the FTC elects to close it
sooner.
Kroger said it still expects the deal to close in early
2024.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 06, 2022 08:40 ET (13:40 GMT)
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