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Price Chopper, Tops Market agree to divestitures to resolve FTC concerns in proposed merger

( November 9, 2021, 17:17 GMT | Official Statement) -- MLex Summary: Grocery store chains Price Chopper and Tops Market have agreed to divest 12 Tops supermarkets to C&S Wholesale grocers in order to settle US Federal Trade Commission charges that their proposed merger would likely be anticompetitve in 11 local markets in upstate New York and Vermont. The FTC alleged in a complaint that the merger would substantially lessen competition for the sale of grocery products in the New York communities of Cooperstown, Cortland, Oneida, Owego, Norwich, Warrensburg, Lake Placid, Rome, Watertown, and Plattsburgh; and in Rutland, Vermont. The proposed consent agreement requires the companies to divest the 12 stores and assets to C&S at a rate of two stores per week for six weeks, beginning by Jan. 17, 2022. The settlement also contains a prior approval provision that prohibits C&S from selling the acquired stores until 3 years after the order is issued, unless the sale receives prior approval from the Commission.Statement follows in full....

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