Ferguson files suit to block Albertsons payout
The Safeway grocery store in Moses Lake. Washington Attorney General Bob Ferguson has sued Boise-based Albertsons, which owns Safeway, to prevent a $4 billion special dividend payout to the company’s shareholders in advance of a proposed $24.6 billion merger with Cincinnati-based Kroger.
CHARLES H. FEATHERSTONE/COLUMBIA BASIN HERALD
SEATTLE — Washington Attorney General Bob Ferguson has filed a lawsuit in King County Superior Court on Tuesday to block a $4 billion special dividend payout to shareholders by Boise-based Albertsons in advance of the company’s proposed merger with Cincinnati-based Kroger, saying the payout is more than the company can afford to pay and will put the company’s ability to operate in Washington at risk.
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