In part of the proposed merger announced by Kroger and Albertsons less than two weeks ago, the companies buried that Albertsons is planning a $4 billion payout to shareholders. On Oct. 26, six Attorneys General including CA and WA pushed back on Albertsons to protect workers and consumers by demanding the companies stop the issuance of the special dividend until regulatory review of the merger is complete.
UFCW Locals announced that they expect the CEOs to respond positively to the Attorneys General by the end of the day on Friday and stop the issuance of the special dividend. Any effort to rush this payment threatens thousands of jobs of essential grocery store workers and millions of shoppers who would suffer from reduced competition, reduced choice and increased costs in markets across the United States.
“We applaud Attorneys General Bonta (CA), Ferguson (WA) and Racine (DC) for their leadership and action to protect workers and consumers in our state,” UFCW Locals said in its statement.