The Washington state Supreme Court recently refused to hear a case against the proposed Albertsons/Kroger grocery merger, clearing the last obstacle in the merger’s path, according to The Seattle Times.
Washington Attorney General Bob Ferguson brought a case against the merger, claiming the cost of the merger could financially weaken Albertsons and lead to store closures.
“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,” Ferguson said in a statement.
Albertsons will immediately begin the process of paying the $6.85 per common share special dividend, and amounts will be distributed soon to stockholders of record as of the close of business in October 2022, the company said in a statement.
“Albertsons Cos.’ proposed merger with The Kroger Co. is continuing through required regulatory review, including seeking clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,” the company said.
