Puerto Rico Okays Wal-Mart Acquisition
The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/puerto-rico-okays-walmart-acquisition/Small business owners are crying foul over an agreement reached between the Puerto Rican government and Wal-Mart. The deal allows Wal-Mart to proceed with its purchase of an island supermarket chain, which will give it control of 40 percent of Puerto Rico’s grocery sales.
Last year Wal-Mart won approval from the Federal Trade Commission to purchase the Amigo supermarket chain. Puerto Rican officials said the deal violated local antitrust laws and sued to block the merger.
