Colorado Attorney General Phil Weiser: Kroger-Albertsons merger would harm consumers

Colorado Attorney General Phil Weiser says the King Soopers-Safeway merger would harm consumers in the state. In a statement released Thursday, Weiser urged the courts to block the planned $4 billion cash out in the proposed merger between Kroger and Albertsons.

"If the special dividend is allowed to be paid out to investors, it would lessen Albertsons' ability to compete not only during the pendency of the merger review, but also in the event that the merger is blocked and Albertsons has to continue on its own," said Weiser in a statement.

Just last week, the nation's two largest grocery store chains defended the decision in front of Congress. The merger is subject to federal approval. 

Oral arguments on the motion to temporarily block the dividend is scheduled for Friday in King County Superior Court.