Top State Official Signs Letter Urging Regulators to Deny Kroger-Albertsons Merger
August 22, 2023 | 1 min to read
The proposed merger between food retail giants Kroger and Albertsons has drawn sharp criticism from New Mexico Secretary of State Maggie Toulouse Oliver and six other secretaries of state, who have collectively opposed the $24.6 billion deal. They argue that the merger would substantially reduce consumer choice, lead to higher prices, and diminish accountability for the combined entity in maintaining low prices. They have formally communicated their concerns to Lina Khan, chair of the Federal Trade Commission.
The proposed merger of food retail giants Kroger and Albertsons has elicited criticism from one of New Mexico’s top elected officials.
New Mexico Secretary of State Maggie Toulouse Oliver last week signed a letter with six other secretaries of state rejecting the $24.6 billion deal — a move that, if approved, will mean the combined companies will control nearly a quarter of the national food retail market.
In the letter — sent to the chair of the Federal Trade Commission, Lina Khan — Toulouse Oliver and secretaries of state from Colorado, Rhode Island, Arizona, Maine, Vermont and Minnesota argue the merger would eliminate choice for consumers, adding that it could mean “no competitive incentive to bring down prices and … consumers will be powerless to hold the company accountable to promises of keeping prices low.”
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