The Washington state Supreme Court has swept aside the last legal obstacle to a $4 billion dividend by Albertson to its shareholders ahead of a controversial proposed merger with rival Kroger.
On Tuesday, the state's highest court refused to review a case against the dividend brought by state Attorney General Bob Ferguson. Ferguson had argued that the hefty payment could financially weaken Albertsons and lead to closures of locations of Albertsons and of Safeway, which Albertsons owns.
In a terse, two-page ruling, however, the court declined to review the case or extend a temporary restraining order blocking the dividend.
