Washington Supreme Court OKs $4 billion dividend in giant grocery merger

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.brought by state Attorney General Bob FergusonFerguson had argued that the payment could financially weaken Albertsons and lead to shuttering locations of Albertsons and of Safeway, which Albertsons owns.

Albertsons, which is based in Boise, Idaho, wants to pay the dividend to shareholders ahead of its proposed $25 billion merger with Kroger, which owns QFC and Fred Meyer.Ferguson said in a statement Tuesday afternoon that his office respects the decision but is surprised and disappointed the state Supreme Court decided not to hear the case.Ferguson’s case was the final obstacle to the dividend after a federal judge in Washington, D.C.

Albertsons will immediately begin the process of paying the dividend to stockholders, the company said in a statement Thursday afternoon.

There is nothing good about this merger for anyone but the people who are the top 1% this is only going to hurt alaska.

This seems like a thing both sides of the aisle should be able to come together on ideologically but nothing. Shows you where the money goes.

Monopolies continue to eat away at competition and drive our food prices through the roof.

Alaska seems to be totally sleeping on this merger…

And they will have more power to price gouge for the benefit of rich shareholders after they merge.

Fuck all the way off

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