![]() It could also spur a new wave of consolidation in the industry among smaller companies attempting to compete. They say it would harm consumers by raising prices and driving out competition. “A deal of this size that has a direct impact on consumers would face significant scrutiny from regulators and take a long time period to be approved,” Joseph Feldman, an analyst at Telsey Advisory Group, said.Ĭonsumer watchdogs, unions, and Democrats have already come out strongly against the deal. The companies said they will spin off nearly 400 stores to form a new rival in an effort to gain antitrust clearance.Īnalysts expect some store closures if the deal goes through and also say it will be a significant hurdle to pass antitrust scrutiny. Kroger operates Ralphs, Harris Teeter, Dillons, Fred Meyer and others, while Albertsons owns Safeway and Vons. The two companies operate dozens of grocery chains. (KR) slid 5% in early trading Friday, while Albertsons dropped 7%. (KR) will buy Albertsons for $34.10 a share - a roughly 30% premium above the grocery chain’s average share price over the course of the past month. Albertsons is known for having higher prices than Kroger and analysts say Kroger may try to lower the chain’s prices. Kroger said the deal would benefit consumers and it will use half a billion dollars in cost savings from the merger to invest in lower prices. The food at home index, a proxy for grocery store prices, increased 0.7% in September from the month prior and 13% over the last year. Prices at grocery stores continued to soar last month. ![]() The move also comes as companies battle higher costs and food inflation reaches its highest level in decades. Its combined market share in the $1.4 trillion grocery industry would be 13.5%, according to Morgan Stanley, making it the second largest grocer behind Walmart’s 15.5% share. ![]() The company would become the third largest retail chain in America by sales. If the deal is completed, it would be one of the largest mergers in US retail history – dwarfing Amazon’s acquisition of Whole Foods in 2017 for $13.7 billion. The merger “accelerates our position as a more compelling alternative to larger and non-union competitors,” Kroger CEO Rodney McMullen said in a statement Friday. Ting Shen/Xinhua/Getty Imagesįood prices are still surging - here's what's getting more expensive The meeting is witnessing the participation of heads of Coast Guards of all member nations.People shop at a local supermarket in Washington, D.C., the United States, Sept. ![]() This platform will go a long way in enhancing maritime cooperation between the Asian Coast Guards. The meeting is witnessing the participation of heads of Coast Guards of all member nations. Indian Coast Guard is the chair of the Search and Rescue (SAR) Working Group and a proactive member of the other Working Groups which include Environmental Protection, Controlling Unlawful Acts at Sea and Information sharing. HACGAM comprises of four Working Groups to enable a focused and goal-oriented approach towards coordinated response and synergy towards common maritime issues. HACGAM primarily focuses on fostering cooperation between the Coast Guards of the member Asian states to ensure and promote safe, secure and clean seas in the region. This multilateral forum is an offshoot of the Japanese initiative to promote cooperation amongst regional Coast Guards, after the capture of the pirated vessel MV Alondra Rainbow by the Indian Coast Guard in Nov 1999. HACGAM is an independent forum with 23 member Coast Guard Agencies and two associate members. This meeting was an annual event hosted by one of the members in rotation and ICG hosted the last edition (18th) of HACGAM at New Delhi in 2022. The four-member ICG delegation was led by DG Rakesh Pal, Director General Indian Coast Guard. "During the Heads of Asian Coast Guard Agencies Meeting (HACGAM) held in Turkiye from September 5-9, various issues of significance, such as maritime law enforcement, safety and security of life at sea, marine environment protection, illicit trafficking of drugs, weapons and humans at sea etc werediscussed," Indian Coast Guard officials said. New Delhi, September 10 (ANI): At the recent meeting of heads of Asian coast guards where India plays a critical role, the participants held significant and extensive discussions on important issues such as maritime law enforcement, and preventing illicit trafficking of drugs, humans and weapons smugglings at sea.
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