Attorneys General Say Jewel-Osco Parent Should Delay $4B Dividend Until They Review Kroger Acquisition Plan

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A bipartisan group of attorneys general is asking Albertsons, the parent company of Jewel-Osco, to delay a $4 billion payout to its shareholders until they can complete a review of Kroger’s planned acquisition of the grocery chain.

"Should any regulatory challenge to the merger succeed, or should the parties abandon the transaction, Albertsons would have to continue to compete with other grocery stores, a goal that its decision to enrich its shareholders to the tune of $4 billion will have made significantly more difficult to accomplish," the letter said.

In a statement, Albertsons said the merger announcement and special dividend mark the successful completion of a strategic review begun in February of the company’s future. The company had nearly $29 billion in assets at the end of September, including $3.4 billion in cash and cash equivalents.

 

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