The Washington Supreme Court has cleared the way for grocery store chain Albertsons to pay a $4 billion dividend ahead of a potential merger with Kroger.
The court opted not to hear a lawsuit brought by state Attorney General Bob Ferguson last year. The court said it would hurt the company during regulation processes for the Kroger merger.“The issues raised in our legal challenge are important to grocery workers and hardworking Washingtonians who must access affordable groceries to feed themselves and their families,” Ferguson said in a statement.
“We respect the decision of the Court, but we are surprised and disappointed the Supreme Court decided not to hear this case. That said, I want to be clear: This merger is far from a done deal. My team and I will be conducting a thorough review,” he continued. Kroger's $24.6 billion purchase of Albertsons was announced in October 2022. Kroger CEO Rodney McMullen said Albertsons"brings a complementary footprint" to their brand."Albertsons Cos. brings a complementary footprint and operates in several parts of the country with very few or no Kroger stores," McMullen said in a statement in October.
"This merger advances our commitment to build a more equitable and sustainable food system by expanding our footprint into new geographies to serve more of America with fresh and affordable food and accelerates our position as a more compelling alternative to larger and non-union competitors," he added.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Washington state court OKs Albertsons' $4 billion dividend ahead of mergerThe 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...
Baca lebih lajut »
Washington court paves way for Albertsons' $4 bln dividend, declines to review caseWashington state's highest court will allow Albertsons Companies Inc to pay a $4 billion dividend ahead of its proposed deal with Kroger Co , by declining on Tuesday to take up a claim that the payout would be uncompetitive.
Baca lebih lajut »
Making sense of all the investigations being launched in Washington this yearThey range from inquiries into President Biden and his family's business dealings to President Biden's use of classified documents in the years after he left the White House as vice president.
Baca lebih lajut »
The First Gen Z Congressman Believes He Can Change WashingtonMaxwell Frost, the Gen Z Congressman from Florida, won his seat on a promise of bold change. Can he deliver in a bitterly divided House?
Baca lebih lajut »
National Action Network's Martin Luther King, Jr. Day breakfast held in WashingtonThe event honored outgoing house speaker Nancy Pelosi and others who have worked to advance King's civil rights mission.
Baca lebih lajut »