Colorado AG sues to block merger between parent companies of King Soopers and Safeway [Albertsons & Kroger]
Colorado AG sues to block merger between parent companies of King Soopers and Safeway [Albertsons & Kroger]
Colorado Attorney General Phil Weiser filed a lawsuit to block the merger of Albertsons and Kroger Inc., the parent of King Soopers.
After hosting town halls across the state, AG Phil Weiser said the merger would result in “higher prices, worse customer service”
Colorado Attorney General Phil Weiser filed a lawsuit Wednesday to block a merger between the parent companies of Safeway and King Soopers.
In the lawsuit, Weiser said the merger would eliminate competition between the grocery store chains and hurt Colorado shoppers. It also violates the state’s antitrust laws and Weiser asked for a preliminary injunction, which would be decided by a district court judge.
“The fact that Kroger, after this merger, could be 50% of the supermarket market share in Colorado is a very clear flashing red light,” Weiser said during a news conference Wednesday. “And the fact that the last merger between Safeway and Albertsons had real harms to communities, to workers, to consumers and to producers, also speaks volumes.”
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Albertsons and Kroger have been doing this everywhere and Kroger has their eye on acquiring Albertsons as a result.
If successful, a joint merger between Albertsons and Kroger would monopolize Grocery stores and they do NOT result in lower prices in any way shape or form. Proven fact (see Albertsons acquisition of VONS etc).
The government needs to get their anti-monopoly crap together and stop this madness.
100%. This shit has gone WAY too far, and the government needs to put a stop to it, because no one else can.
We need monopoly, collusion, and oligopoly busting badly in north america
But.. but... Think of the poor stock holders! How can they generate ever more profits if there is competition?
Kthulu begs your understanding, and softly reminds that your choice was already made. By Kthulu.
they do NOT result in lower prices in any way shape or form
No shit, that's exactly the opposite of what monopolies are for. Is there anybody actually trying to argue that?!
Kroger argued it in the article:
In contrast, Kroger and Albertsons Companies merging will bring lower prices to more customers, strengthen and create good-paying union jobs, and bring more fresh, affordable food to more communities,” the company said in an email.