In The Press November 07, 2022

AGs Add Another Roadblock to Kroger-Albertsons Deal (Axios)

In an unprecedented move, attorneys general from Washington state, California, Illinois and the District of Columbia filed lawsuits last week to block Albertsons' $4 billion special dividend payment to shareholders. A Washington state court temporarily blocked the grocery chain from making the payment last Thursday. Regardless of political affiliation, states' attorneys general have been more aggressive at experimenting with new ways to apply existing regulations or laws in recent years. Their opposition to Albertsons' dividend likely comes out of the growing disillusionment or antipathy toward private equity, says Andrew Lacy, co-chair of the Antitrust & Competition practice, to Axios. Due to antitrust scrutiny, the Kroger-Albertsons deal provides states' AGs with a legal opening to address the dividend, he posits.