Washington state sues to block merger of Kroger and Albertsons
CBSN
Washington state's attorney general filed a lawsuit on Monday seeking to block Kroger's proposed $24.6 billion deal for Albertsons, saying it would curtail shopping options, endanger jobs and reduce competition that keeps a lid on grocery prices.
Despite a proposal by Kroger and Albertsons to address potential antitrust concerns by selling off more than 100 stores in Washington, the merged company would still hold a near-monopoly in many parts of the state, according to Washington Attorney General Bob Ferguson.
"This merger is bad for Washington shoppers and workers," he said in a statement. "Free enterprise is built on companies competing, and that competition benefits consumers. Shoppers will have fewer choices and less competition, and, without a competitive marketplace, they will pay higher prices at the grocery store. That's not right, and this lawsuit seeks to stop this harmful merger."
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