Clifford Chance
Dividend Denied: Washington State Court Temporarily Blocks Albertsons' Shareholder Dividend, Further Complicating Potential Albertsons-Kroger Merger
November 7, 2022
On November 3, 2022, the Superior Court of Washington granted the Washington Attorney General's request for a temporary restraining order against the $4 billion special dividend that Albertsons Companies, Inc. planned to issue to its shareholders on November 7, 2022. The company intended to process the payout prior to its proposed acquisition by The Kroger Company. The move by the Washington Attorney General further complicates the already highly scrutinized proposed merger between the companies.
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