Kroger Seeks to Create Grocery Giant in $20 Billion Albertsons Bid

A Kroger store in Novi, Mich., on Jan. 23, 2021. Ed Pevos/Ann Arbor News via AP

Two of the nation’s largest grocers have agreed to merge in a deal they say would help them better compete with Walmart, Amazon, and other major companies that have stepped into the grocery business.

Kroger on Friday bid $20 billion for Albertsons Companies Inc., or $34.10 per share. Kroger will also assume $4.7 billion of Albertsons’ debt.