Albertsons Companies Provides Update on Legal Proceedings in State of Washington Surrounding Special Dividend
Albertsons Companies, Inc. (NYSE: ACI) (“Albertsons Cos.” or “the Company”) announced that the State of Washington Supreme Court has granted the Company’s motion to hold an expedited review of the temporary restraining order (“TRO”) against the Company’s previously announced $6.85 per common share Special Dividend (the “Special Dividend”).
- Albertsons Companies, Inc. (NYSE: ACI) (“Albertsons Cos.” or “the Company”) announced that the State of Washington Supreme Court has granted the Company’s motion to hold an expedited review of the temporary restraining order (“TRO”) against the Company’s previously announced $6.85 per common share Special Dividend (the “Special Dividend”).
- The date for the review has been moved forward to January 17, 2023, having previously been set for February 9, 2023.
- Albertsons’ position has been supported by favorable rulings in both Circuit and District courts in the District of Columbia and a Washington State court.
- 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.