Albertsons Companies Inc Stock Price, News & Analysis

Albertsons Companies, Inc. (NYSE: ACI) announced that the Washington State Supreme Court has expedited the review of a temporary restraining order against its $6.85 per common share Special Dividend. The review date is now January 17, 2023, moved from February 9, 2023. The company asserts that the lawsuits challenging the dividend from various state Attorneys General lack merit, supported by previous court rulings. Meanwhile, the proposed merger with Kroger remains under regulatory review.

Albertsons Companies, Inc. (NYSE: ACI) announced a $6.85 Special Dividend, pending a review by the Washington State Supreme Court on February 9, 2023. A temporary restraining order currently halts payment until further notice. Additionally, the U.S. Circuit Court denied a motion from various Attorneys General seeking to block the dividend. The Company believes these legal claims are baseless. Furthermore, the merger with The Kroger Co. is moving forward through regulatory review.

Albertsons Companies, Inc. (NYSE: ACI) announced that the State of Washington Supreme Court has extended a temporary restraining order against its $6.85 per share Special Dividend as the court reviews an appeal. The order will stay in effect until further notice. Albertsons has filed a motion to expedite this review and maintains that the claims by the Washington Attorney General and similar lawsuits from California, Illinois, and Washington, D.C. lack legal standing. The company’s merger with The Kroger Co. continues through regulatory scrutiny.

Albertsons Companies (NYSE: ACI) announced that the Washington State Court denied the Attorney General's request for a preliminary injunction against a $6.85 per share Special Dividend, originally set for November 7, 2022. Shareholders of record by October 24, 2022 are eligible. The court also extended a temporary restraining order until December 19, 2022 for potential appeals. Albertsons believes the lawsuits from multiple states against the dividend are meritless. The company’s merger with Kroger is under regulatory review.

The Kroger Co. (NYSE: KR) announced it received a "second request" from the Federal Trade Commission (FTC) concerning its merger with Albertsons Companies, Inc. (NYSE: ACI). This request will extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Kroger remains optimistic about the merger's benefits, including improved competition, lower prices, and better access to fresh food. The company continues to expect the merger to complete in early 2024, while complying with FTC requests and planning potential divestitures.

Albertsons Companies (NYSE: ACI) announced that the Washington State Court has postponed the hearing regarding the temporary restraining order (TRO) until December 9, 2022. This TRO, originally granted on November 3, 2022, prevents the company from paying a special dividend of $6.85 per share to stockholders as of October 24. Albertsons maintains that the state’s claim lacks merit and expects to uphold the dividend approved by its Board of Directors.

Albertsons Companies (NYSE: ACI) announced the postponement of a hearing regarding a temporary restraining order (TRO) by the State of Washington preventing the distribution of a $6.85 per share Special Dividend to shareholders of record from October 24, 2022. The hearing is set for November 16 and 17, with the TRO still in effect. Albertsons asserts the claim is meritless and stands by its Board's decision to approve the dividend.

Albertsons Companies has launched its premium Vinaforé Collection of wines, which includes five highly acclaimed varietals. The 2021 Vinaforé Napa Valley Chardonnay and 2020 Côtes du Rhône Villages both received 90 points, marking them as outstanding. Retail prices range from $14.99 to $21.99. The collection, curated by Curtis Mann, aims to enhance customer wine experiences with pairing suggestions on labels. Customers can now purchase Vinaforé wines online through delivery services like DoorDash or Instacart.

Kimco Realty (NYSE: KIM) has acquired a portfolio of eight Long Island shopping centers for $375.8 million. The deal, funded by cash and mortgage debt, enhances Kimco's presence in a high-demand market. This property, with a 94.4% lease rate and an average household income of $187,000, is strategically located near the company's headquarters. The acquisition aligns with Kimco's goal of increasing grocery-anchored rental income and adds 540,000 square feet to their portfolio, now totaling over 3.5 million square feet in Long Island.