Rodney McMullen, CEO of Kroger, and Vivek Sankaran, CEO at Albertsons, are set to testify today as they face congressional questioning related to their planned $25 billion merger, reports Reuters. Senators Amy Klobuchar and Mike Lee called the meeting.
"The hearing will examine the impact of the proposed merger of Kroger and Albertsons, the two largest grocery chains in the country," said the statement from Klobuchar’s office.
To ensure the agreement complies with antitrust law, the Federal Trade Commission will review the deal. Both companies, to combat criticism, divulged that they plan to divest some locations, and take other measures to ensure law compliance. After the merger, the company would have a total of around 5,000 stores under its combined banner. Full Story
Related: Washington Sues to Block Albertsons Payout; Albertsons Seeks to Overturn Restraining Order