The Federal Trade Commission on Monday sued to block a proposed merger between grocery giants Kroger and Albertsons, saying the $24.6 billion deal could result in higher prices for millions of American consumers.
The FTC filed a lawsuit in U.S. District Court in Oregon, alleging that the deal is anticompetitive and could harm shoppers by boosting prices for groceries and other essential household items. The merger could also result in lower quality products and services, as well as limit shoppers’ options for where to buy groceries, the agency alleged.
The FTC was joined in the suit by eight state attorneys general and the District of Columbia.
Late stage capitalism just cant help but create monopolies. But they dont really need to, they just have to all quietly agree to raise prices based on cost and simply never lower them regardless of that cost decreasing. Weird how the spot price of grain can go up or down but a loaf of bread only goes up. Why even bother with being competitive when you can just raise prices and stagnate wages while asking for government hand outs?
The rich already have socialism, the public pays for their losses and often even their investment costs indirectly via buisness grants etc. but the profits are privatized.
New arena, anyone?