The Washington state Supreme Court has brushed aside the final remaining legal hurdle in the way of a $4 billion dividend by Albertsons to its shareholders...
SEATTLE — The Washington state Supreme Court has brushed aside the final remaining legal hurdle in the way of a $4 billion dividend by Albertsons to its shareholders ahead of a proposed merger with rival Kroger.
The state’s highest court on Tuesday declined to review a case against the dividend brought by state Attorney General Bob Ferguson, The Seattle Times reported. Albertsons ACI , which is based in Boise, Idaho, wants to pay the dividend to shareholders ahead of its proposed $25 billion merger with Kroger KR , which owns QFC and Fred Meyer.
Grocery-store closures have been a concern in the Seattle area, where Albertsons and Kroger have nearly 200 locations. Kroger and Albertsons have both repeatedly dismissed closure concerns.
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