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King County judge temporarily halts Albertsons merger payout

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A King County Court Commissioner has approved a temporary restraining order request filed by Washington state Attorney General Bob Ferguson to block Albertsons Inc. from paying a massive dividend to investors Monday, Nov. 7.

Kroger logo is seen on the shop in Streator, United States on October 15, 2022.

“[Albertsons and Kroger] control hundreds of grocery stores,” Ferguson said. “In my part of North Seattle, I’ve got two grocery stores, almost within walking distance of each other. They are owned by each of these two competitors. And if those competitors are no longer competing, guess what’s going to happen, prices are going to go up, and workers will have fewer opportunities.”

 

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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 »