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According to Albertsons, Washington AG’s motion for an order to halt the payment of the company’s dividend was denied.
Albertsons Companies Inc. said late Friday that the Washington State Court had rejected the state’s Attorney General’s request for a preliminary injunction to stop the business from paying a dividend to its shareholders.
Last week, the attorneys general of California, Illinois, and Washington, D.C., requested a preliminary injunction from a federal court to stop Albertsons from paying a $4 billion dividend to stockholders as part of its acquisition by rival Kroger (NYSE:KR) Co.