There's concern over the whether the merger will complete. Personally, I don't think it will, but WTHDIK?
Yes, I expect the stock to tank and, much as I like Special dividends, this isn't one I'll be playing.
U.S. senators inspecting antitrust issues are set to hold a hearing on grocery chain Kroger Co's (NYSE: KR) plan to acquire rival Albertsons Companies Inc (NYSE: ACI) in a $25 billion deal.
Chair of the Senate Judiciary Committee antitrust panel, Democratic Senator Amy Klobuchar, and Republican Senator Mike Lee expressed serious concerns about the merger, Reuters reported.
"As food prices remain elevated, too many American families are struggling to put food on the table," the report noted that both senators wrote to Federal Trade Commission Chair Lina Khan.
"This merger raises considerable antitrust concerns."
The merger will bring under one roof nearly 5,000 stores.
The companies intend to divest some stores, with Albertsons ready to spin off a separate unit to ease antitrust concerns.
