11/10/22 - A state court in Washington on Thursday said it would extend a temporary block that prevented Albertsons Companies Inc (ACI.N) from paying its shareholders a $4 billion dividend before the grocery chain closes its proposed deal with rival Kroger Co.
UFCW Local 1167 does not believe the proposed Kroger/Albertsons merger would benefit members and will do whatever is necessary to ensure UFCW members' voices are heard." click here to read reuters article
11/2/22 - Three attorneys general file lawsuit seeking to block Albertsons' $4 bln payout. To read more click here
11/1/22 - Presidents from UFCW Locals from all across the country met with grocery executives on October 27, 2022, in Chicago to discuss the $4 billion special dividend to Albertsons shareholders and the proposed merger with Kroger.
The corporate executives gave a rosy forecast of the merger and dividend payout, but we are highly skeptical, especially concerning Albertsons' giveaway of 4 billion dollars.
Rob Bonta, the Attorney General of California, along with his colleagues in the District of Columbia, Arizona, Idaho, Illinois, and Washington, wrote a letter demanding that Albertsons delay the dividend payout. Bonta's and the Attorneys General's statement reads in part:
"The attorneys general express their strong concern with Albertsons and Kroger's joint announcement that Albertsons will pay stockholders a cash dividend of up to $4 billion on November 7, 2022. The planned dividend payment would substantially impact Albertsons cash flow, making it difficult to continue to compete with Kroger ahead of the merger."
We are currently working on many levels to get as much information as possible to make decisions that are in the best interests of UFCW members and their families.
Check back to this space for futue updates regarding Albertsons propsed merger with Kroger
To read the UFCW'S initial October 14, 2022 Statement regarding the Albertsons/Kroger proposed merger, click here