safeway

The U.S. Federal Trade Commission announced on Tuesday it has approved the $9.2 billion merger of Safeway Inc. and Albertsons, clearing the way for the creation of the country's third largest grocery retailer (behind Walmart and Kroger) and, according to critics, leaving consumers vulnerable at a time of poverty, low wages, and food insecurity.

The Commission green-lighted the merger after the companies agreed to sell 168 of their stores. FTC Chairwoman Edith Ramirez claimed in a statement that the sales alleviate any concerns that the merger will lead to higher prices. "This settlement will ensure that consumers in those communities continue to benefit from competition among their local supermarkets," she said.