By Maggie Fusek
Source: Patch.com
A proposed merger between the nation’s two largest grocery corporations, Albertsons and Kroger, threatens to make a bad economic situation even worse, opponents of the merger wrote Monday.
A Washington court has issued a temporary restraining order, putting a pause on a $4 billion payout to executives and shareholders as part of the deal. A hearing is scheduled for Wednesday and Thursday on the matter. At stake, argue critics of the deal which include California’s attorney general, are potentially hundreds or thousands of jobs and price instability. Customers already contending with high inflation could face even higher prices after the deal forces some store closures, the merger’s opponents warned.
