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Kroger, Albertsons in talks to sell grocery stores to C&S Wholesalers – report

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Top Grocery Retailer Kroger To Acquire Rival Albertsons For $24.6 Billion

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Kroger (NYSE:KR) is in talks with C&S Wholesalers to sell grocery stores in an effort to gain antitrust approval for its planned $24 billion purchase of Albertsons (NYSE:ACI).

C&S Wholesalers, with backing from Japan’s Softbank Group (OTCPK:SFTBY), could announce a deal to buy grocery stores this week, according to a Bloomberg report on Tuesday, which cited people familiar with the matter. The supermarket chains said in October that they would spin off 100 to 375 stores if they couldn’t find buyers for them.

According to the report, it’s not known how many stores C&S plans to purchase or how much it will pay for them.

Kroger (KR) is trying to get the Albertsons (ACI) megadeal across the finish line, though it continues to see opposition. Last month, seven states asked the Federal Trade Commission to block the combination.

The push from the states comes as Albertsons (ACI) and Kroger await word from the FTC on whether the regulator will bless the mega supermarket deal or move to challenge it in court after receiving a second request in December. There have been some reports that the FTC may make a decision by early fall.

Last month, a judge tossed out a lawsuit by a group of consumers who sued to block the Albertsons (ACI) deal.

Kroger (KR) is set to report Q2 results on Friday.

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