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Kroger sues FTC over in-house review of $25B grocery deal that ‘could take years’

Kroger sues FTC over in-house review of $25B grocery deal that ‘could take years’


This article was originally published on NY Post - Business. You can read the original article HERE

Kroger sued the Federal Trade Commission on Monday, seeking to block the regulator from reviewing the grocery chain’s proposed $25 billion merger with smaller rival Albertsons in its in-house tribunal.

Kroger called the tribunal unconstitutional, saying the matter should be resolved in a federal court.

The lawsuit filed in Cincinnati comes a week before the company is scheduled to face a trial where the FTC has asked a federal judge in Portland, Ore., to temporarily block the merger while its in-house judges review the deal.

Kroger store
Kroger called the tribunal unconstitutional, saying the matter should be resolved in a federal court. Miriam Marini/Detroit Free-Press / USA TODAY NETWORK

The FTC said in a lawsuit filed in February that the deal will raise prices for millions of Americans and squeeze the labor market for unionized grocery store workers.

That in-house review could take years, Kroger said in the lawsuit.

Kroger Chairman Rodney McMullen said in a statement that the company is “prepared to defend this merger in the upcoming trial in federal court – the appropriate venue for this matter to be heard.”

“We are asking the court to halt what amounts to an unlawful proceeding before the FTC’s own in-house tribunal,” he said.

FTC Chair Lina Khan
The FTC, headed by Lina Khan, said in a lawsuit filed in February that the deal will raise prices for millions of Americans and squeeze the labor market for unionized grocery store workers. Getty Images

A spokesperson for the FTC declined to comment.

This article was originally published by NY Post - Business. We only curate news from sources that align with the core values of our intended conservative audience. If you like the news you read here we encourage you to utilize the original sources for even more great news and opinions you can trust!

Read Original Article HERE



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