By Maggie Fusek Source: Patch.com A proposed merger between the nation’s two largest grocery corporations, Albertsons and Kroger, threatens to make a bad economic situation even worse, opponents of the merger wrote Monday. A Washington court has issued a temporary restraining order, putting a pause on a $4 billion payout [...]
By David Ritter and Conor Gaffney Source: Grocery Dive Kroger and Albertsons recently shocked the retail world by announcing a nearly $25 billion arrangement that will combine two of America’s top grocers and result in a national network of 5,000 stores and annual revenue of about $200 billion. While a deal [...]
By Moe Tkacik Source: Slate Earlier this week, four state attorneys general filed two separate lawsuits seeking to stop a clique of private equity firms from swiping $4 billion from the massive supermarket chain they own. It was a frankly shocking turn of events, given that, as anyone who has [...]
By Russell Redman Source: Supermarket News After lawsuits filed by three state and the District of Columbia attorneys general, a county court in Washington state has paused Albertsons Cos.’ planned $4 billion dividend payment in connection with its proposed acquisition by The Kroger Co. A King County Superior Court commissioner [...]
Source: Street Insider Pension Trustees representing United Food and Commercial Workers (UFCW) Locals 5, 8, 480 and 648 in Northern California and Hawaii demand Albertsons delay an anticipated $4 billion dividend to shareholders. The UFCW Trustees seek this delay until such time as all pension obligations are assessed and fulfilled. [...]
By Malathi Nayak and Brendan Case Source: Bloomberg Albertsons Cos. was ordered by a Washington state judge to temporarily halt a $4 billion special dividend while the grocery chain’s pending merger with Kroger Co. is under regulatory review. The ruling Thursday suspends Albertsons’ plan to reward shareholders including Cerberus Capital [...]
By Russell Redman Source: Supermarket News The attorneys general of the District of Columbia and five states today sent a letter to Albertsons Cos. and The Kroger Co. urging them to hold off on a special $4 billion dividend payment to Albertsons shareholders under their proposed $24.6 billion merger deal. [...]
By Jaime Stathis Source: Reader's Digest In a $24.6 billion deal, Kroger is acquiring Albertsons to create a supermarket powerhouse that will rival Walmart. Together, Kroger and Albertsons employ 700,000 people in 5,000 stores serving 85 million households, and have a combined annual revenue of $210 billion, only $10 billion [...]
By Brett Dworski Source: C-Store Dive Kroger sent shock waves through the grocery and retail industries when it agreed to acquire rival Albertsons for over $24 billion earlier this month. If approved, the merger would create a supermarket chain of immense size and scale that can compete with the non-grocery competitors [...]
Source: CNBC U.S. senators who scrutinize antitrust issues expressed “serious concerns” about grocery company Kroger’s plan to buy rival Albertsons, and said they would hold a hearing next month on the $25 billion deal. The announcement by Democratic Senator Amy Klobuchar, chair of the Senate Judiciary Committee antitrust panel, and [...]