SEATTLE, Wash. – A King County judge has put a payday for Albertsons investors on hold.
Washington Attorney General Bob Ferguson sued to prevent the owner of Haggen and Safeway stores from making a $4 billion dividend payment ahead of a huge merger.
Kroger, which owns Fred Meyer and QFC stores, has announced a deal to buy Albertsons.
The $4 billion would exceed Albertson’s cash-on-hand, and Ferguson says it would jeopardize the company’s ability to operate its stores in Washington.
The judge in King County has put the payment on hold while Ferguson’s lawsuit moves forward.