Business & Tech
Market Basket Shareholders to Split $250 Million
The vote follows a board meeting earlier this month over the future of the grocery store chain.
The Market Basket board voted Thursday to distribute $250 million to the company's nine shareholders, according to the Boston Globe.
The Globe said the board was scheduled to meet at the Harvard Club in Boston but had to move its meeting to another location after Market Basket employees gathered outside.
The grocery store chain, which has a location in Bedford, has been embroiled in a public battle over the future of the company. Employees rallied around CEO Arthur T. DeMoulas last month when it appeared he might be ousted by the board. That effort appeared to save his job, at least for now.
[Read the full story here.]
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