Yahoo Finance Live anchors discuss third-quarter earnings for Kroger.
The attorneys general of California, Illinois and Washington D.C. asked a federal court on Thursday for a preliminary injunction that would prevent Albertsons Companies Inc, which is being purchased by rival Kroger Co, from paying a $4 billion dividend to shareholders. The state officials said in a court filing that Kroger, which does not yet own its rival, agreed with Albertsons that Albertsons would pay the dividend at the beginning of the merger review. "Payment of the special dividend, in conjunction with the restrictions defendants' merger agreement imposes on Albertsons' ability to borrow money, likely will hamper Albertsons' ability to compete with Kroger and other grocers, leaving shoppers facing higher prices, worse service, less innovation, closure of their local Safeway or other Albertsons supermarket, or all of the above," they said in the filing.
Image source: The Motley Fool. Kroger (NYSE: KR)Q3 2022 Earnings CallDec 01, 2022, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning, and welcome to the Kroger Co.