FTC Sues to Block Kroger’s $24.6 Billion Albertsons Deal (3)

The US Federal Trade Commission, eight states and Washington DC sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. Monday, arguing the tie-up would lead to lower wages for workers and higher prices for groceries.

In a complaint filed in federal court in Portland, Oregon, the FTC said the combination of the two largest US supermarket chains would unduly concentrate the market, despite a proposal by the companies to sell off stores to Piggly Wiggly chain owner C&S Wholesale Grocers Inc. The bipartisan group of states includes California and Wyoming.

Albertsons rose 0.5% to $21.54 following ...