FTC Oks Safeway Grocery Store Takeover With Divestiture

Law360, New York (June 15, 2012, 6:49 PM EDT) -- The Federal Trade Commission on Friday gave the parent company of Giant Food Stores LLC approval to purchase a chain of stores in the Philadelphia area from competitor Safeway Inc., on the condition that Giant sell one store to grocery chain McCaffrey's to alleviate anti-competition concerns.

The FTC had objected to the proposed merger, saying it would reduce the number of supermarket competitors in the area from three to two, allowing Giant and Safeway affiliate Genuardi's to unilaterally raise prices.

Under the terms of the agreement,...
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