Colorado will lead a multi-state investigation into the proposed $25 billion merger between King Soopers’ parent company and Albertsons, which operates Safeway, Attorney General Phil Weiser announced Thursday.
In his brief, Weiser said permitting the special dividend would exhaust Albertsons’ cash reserves and deepen its debt.
He pointed to past conduct by the corporation, using the merger with Safeway in 2015 as an example. After the Federal Trade Commission forced Albertsons to sell 168 stores, regional grocer Haggen Inc., bought the bulk of them — 146.
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