Washington Court Paves Way for Albertsons' Billion Dividend, Declines to Review Case
An Albertsons grocery store in Glendora. REUTERS/Aude Guerrucci Washington state's highest court on Tuesday cleared the way for Albertsons Companie...
An Albertsons grocery store in Glendora. REUTERS/Aude Guerrucci Washington state's highest court on Tuesday cleared the way for Albertsons Companies Inc to pay a $4 billion dividend ahead of the grocer's proposed deal with rival Kroger Co, as the justices declined to take up a claim that the payout would harm industry competition. The Washington Supreme Court made the decision after a lower court judge refused last month to issue a preliminary injunction against the dividend. The Washington attorney general's office in November sued to block the dividend, arguing that it would weaken Albertsons before Kroger's $25 billion purchase.