An attempt by Washington State Attorney General, Bob Ferguson, to block a special $4 billion dividend to shareholders will now proceed following a decision by the state Supreme Court not to intervene. 

Albertson’s scheduled the dividend payment during early November, stripping the company of $2.5 billion in cash and incurring $1.5 billion in short-term loans.  The dividend that would benefit corporate shareholders was announced prior to the proposed merger with the Kroger Company that should be completed towards the end of 2023, subject to Federal approval.

Ferguson, along with other Attorneys General, workers’ unions and producer groups oppose the merger that has the potential to limit competition, especially in western states.