Kroger (NYSE:KR) and Albertsons (NYSE:ACI) are in the news today after the Federal Trade Commission (FTC) sued to block the planned Kroger-Albertsons merger.

Let’s dig into all of the details traders of KR stock and ACI stock need to know about the blocked Kroger-Albertsons merger below.

Kroger-Albertsons Merger Update

• The FTC is blocking the planned merger between Kroger and Albertsons over concerns that it would stifle competition in the food retail sector.
• Other concerns that impacted the FTC’s decision to block the merger include rising food prices in the U.S. alongside increasing inflation.
• Kroger argues that blocking the merger with Albertsons would actually be worse for consumers, as it would allow non-unionized rivals to continue to dominate the grocery retail space and keep it from reducing operating costs and dropping prices.
• The Kroger-Albertsons merger would combine the fifth-largest and 10th-largest grocery chains in the U.S. to create a new company with almost 5,000 stores and 710,000 employees.
• According to the FTC, that would also harm the ability of workers to negotiate higher wages, improved benefits and better working conditions.

Jon Donenberg, Deputy Director of President Joe Biden’s National Economic Council, said the following about the FTC blocking the Kroger-Albertsons merger:

“When large corporations are not checked by healthy competition, they too often do not pass cost savings on to consumers and exploit their workers.”

KR stock is up 2% while ACI stock is down 2% as of Tuesday morning.

Investors looking for all of the latest stock market stories today are in the right place!

We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s happening with shares of AMC Entertainment (NYSE:AMC), Anheuser-Busch (NYSE:BUD) and Marathon Digital (NASDAQ:MARA) stock today. You can find out more on these matters at the following links!

More Stock Market News for Tuesday

• AMC Stock: 3 Things to Watch When AMC Entertainment Reports Tomorrow
• Anheuser-Busch Strike: 5 Things to Know as Brewers Gear Up for Walkout
• Will Earnings Trigger a Short Squeeze Rally for Marathon Digital (MARA) Stock?

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.