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Washington Supreme Court extends temporary restraining order pending a decision on an appeal.
Caribbean-based Massy Stores purchased the seven-unit independent grocer to expand its retail presence in the U.S., it said.
The temporary restraining order on the grocer's planned special payment to shareholders was extended another 10 days.
With the move, the agency is pursuing a more in-depth investigation of the supermarket mega-merger.
CEO Vivek Sankaran said the payment would return cash to longtime shareholders and isn’t part of the Kroger merger.
Lawmakers express concerns about reduced grocery competition and the $24.6 billion transaction’s potential impact on shoppers and workers.
A Senate hearing will be held Tuesday to examine competitive implications of blockbuster proposed grocery deal.
The $4 billion payment related to the merger with Kroger will remain suspended at least until next month.
The regional supermarket operator and Winn-Dixie parent scrapped its IPO plans last year.
The special dividend payout, which has been subject to legal wrangling while the grocer’s $24.6 billion merger plans with Kroger are reviewed, will be on hold at least until Nov. 17 when the next hearing will be held.
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The stresses of the ongoing pandemic, coupled with mounting economic uncertainty, social unrest and more have fueled a pressure cooker for grocery and convenience store customers and their employees.
WGB looks at what’s in store for the fresh perimeter in 2024 and how grocers can capitalize on a consumer who may finally be feeling “re-freshed” after several tumultuous years.
New store updates are important to our readers, so we’re adding a monthly feature to highlight them and demonstrate supermarket growth trends around the country.
Listen in to WGB’s flagship podcast, 10 Items or Less, featuring insights from retailers and industry professionals.
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