The International Brotherhood Of Teamsters Opposes Sale Of Kroger Or Albertsons To C&S Wholesale Grocers As Proposed In The Companies' Sept. 2023 Divestiture Plan Submitted To The FTC; Urge The FTC To Reject C&S As A Buyer
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The International Brotherhood Of Teamsters has expressed opposition to the proposed sale of Kroger or Albertsons stores to C&S Wholesale Grocers, as outlined in the divestiture plan submitted to the FTC in September 2023. The union is concerned about the potential loss of approximately 1,200 Teamster jobs following the asset transfers and is urging the FTC to reject C&S as a buyer.
December 11, 2023 | 9:23 pm
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Albertsons' divestiture plan, which includes a sale to C&S Wholesale Grocers, is under threat from Teamsters union opposition, potentially impacting the FTC's decision and the company's restructuring efforts.
The Teamsters' opposition to the sale of Albertsons stores to C&S could complicate the FTC approval process and the company's planned restructuring, which may lead to negative investor perception and a decrease in Albertsons' stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Kroger's proposed sale of stores to C&S Wholesale Grocers faces opposition from the Teamsters union due to potential job losses, which could affect the FTC's approval of the deal.
The opposition from the Teamsters union could lead to regulatory challenges for Kroger's proposed divestiture plan, potentially delaying or altering the deal, which may negatively impact investor sentiment and Kroger's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80