Washington state's highest court will allow Albertsons Companies Inc to pay a $4 billion dividend ahead of its proposed deal with Kroger Co , by declining on Tuesday to take up a claim that the payout would be uncompetitive.
to block the dividend, arguing that it would weaken Albertsons before Kroger's $25 billion purchase.
Albertsons said in a statement on Tuesday after the Washington court ruling that it will "immediately begin the process of paying the Special Dividend and amounts will be distributed as soon as practicable." In a statement, Washington Attorney General Bob Ferguson said his office was "surprised and disappointed the Supreme Court decided not to hear this case."
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