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The Boston Globe

Business

Market Basket board votes to distribute $250m to owners

The board of Market Basket, split by a bitter family feud between the supermarket chain’s owners, has voted to distribute $250 million to the company’s nine shareholders, according to a person briefed on the board’s action.

The Market Basket board has been divided between one faction supporting chief executive Arthur T. Demoulas and another group of family members who want to replace the company’s leader, accusing him of financial mismanagement and other misdeeds.

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