SEATTLE — Washington’s top lawyer has asked a court to stop Albertsons from paying investors a $4 billion dividend set to be paid out ahead of the grocery retailer’s proposed merger with rival Kroger.
To get its merger approved, Kroger and Albertsons must sell hundreds of competing locations with too much market overlap to a competitor. That process, known as divestiture, could affect numerous stores in Washington.In the greater Seattle area alone, Kroger and Albertsons each have around 80 locations, according to company data, and often appear to be the other’s biggest local competitor.
The merger has also prompted concerns from Seattle-area shoppers, who worry that some divested stores could end up closing, as happened after the 2015 merger between Albertsons and Safeway. Last week, Ferguson co-signed a letter by five other attorneys general threatening to sue Albertsons if the retailer didn’t postpone the dividend payment.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
never mind Amazon time to go out and shop bring back real businesses.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Washington leaders slam proposed Albertsons, Kroger mergerWashington leaders are concerned by the proposed Albertsons-Kroger merger, saying it violates antitrust laws and could spell doom for shoppers and workers across the state. FOX13 'Spell doom' lol dramatize much? 'leaders' 'Washington leaders' caused this with mandates regulations and taxes.
Source: fox13seattle - 🏆 328. / 59 Read more »
Kroger-Albertsons merger be good for Bashas' - Phoenix Business JournalBashas’ was acquired last year by Raley’s, a family-owned grocery chain based out of Sacramento. The deal was meant to grow both companies – giving both brands more buying power and the ability to compete better with larger companies. Trey Basha, the president of the grocery chain, talks about what has happened since the acquisition.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Kroger-Albertsons Merger Could Hurt CustomersAs customers struggle to keep up with soaring food costs, the massive supermarket merger threatens to do even more damage.
Source: EatThisNotThat - 🏆 294. / 63 Read more »
Kroger-Albertsons Merger Draws Questions from Politicians, WorkersA combination of the two biggest supermarket operators in the U.S. is prompting elected officials to question how the deal could affect jobs, prices and competition. ORDOJ this merger would be especially bad for Oregon residents $KR If unions and elected officials are pushing back on this deal, it must be a good thing.
Source: WSJ - 🏆 98. / 63 Read more »
King County court blocks $4B payout in planned Albertsons, Kroger mergerThe King County Superior Court has blocked Albertsons' $4 billion shareholder payout as part of their planned merger with Kroger. FOX13
Source: fox13seattle - 🏆 328. / 59 Read more »