U.S. senators from both parties expressed skepticism Tuesday that a proposed merger between grocery giants Kroger and Albertsons would result in lower prices for consumers. “Fewer local options mean less competition to keep prices low,” said Sen. Alex Padilla, a California Democrat, in a hearing before the antitrust subcommittee of the Senate Judiciary Committee. Padilla said Kroger and Albertsons compete in many California cities. But the CEOs of Kroger and Albertsons insisted there will still
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Skeptical lawmakers from across the political spectrum questioned executives at grocers Kroger Co and Albertsons Companies Inc on Tuesday about their planned $25 billion merger amid concerns the tie-up could boost already-high food prices. Senator Amy Klobuchar, a Democrat and chair of the Senate Judiciary Committee's antitrust subcommittee, said she worried the deal would mean a loss of competition in groceries, and potentially higher costs, at a time when inflation is already high. The deal will be reviewed by the Federal Trade Commission to ensure it is legal under antitrust law.