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  1. #1
    Senior Member JohnDoe2's Avatar
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    Cerberus to buy Safeway for $9 BILLION

    Cerberus to buy Safeway for $9 billion

    Gabrielle Kratsas and Gary Strauss, USA TODAY5:31 p.m. EST March 6, 2014


    (Photo: Paul Sakuma, AP file)

    Safeway, the nation's No. 2 grocery chain, is being acquired by private equity firm Cerberus Capital Management in a deal valued at about $9 billion.

    Safeway, the nation's No. 2 supermarket chain, will be acquired for $9 billion by an investor group led by private equity firm Cerberus Capital Management.


    The deal, announced Thursday, will merge Safeway with grocer Albertsons. The Idaho-based grocer, the fifth-largest grocer, is controlled by Cerberus, which acquired about 900 Albertsons, Acme, Jewel-Osco and other stores from Supervalu for $3.3 billion.


    The deal is the latest in a series of acquisitions and buyouts that is shaping the supermarket industry. Cerberus tried to buy the 200 store Harris Teeter chain, but didn't match a $2.5 billion bid by Kroger.


    Safeway shares, which have been rising on a potential buyout bid, closed up 2 cents to $39.50 a share Thursday. That's close to Cerberus bid, worth about $40 a share. Safeway shareholders will receive $32.50 a share in cash, plus the rights worth another $3.65 a share from asset sales. They will also receive shares in spinoff Blackhawk Network Holdings, a gift card company, worth $3.95 a share.


    Safeway shares are up 17% since Feb. 18, when the company said it was exploring a sale with an unnamed suitor. Kroger had expressed interest in acquiring some of Safeway's 1,335 stores. Kroger reported fourth-quarter earnings earlier Thursday. In a conference call with stock analysts, management did not address specific acquisition plans.


    http://www.usatoday.com/story/money/...llion/6133569/

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    Senior Member JohnDoe2's Avatar
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    Senior Member JohnDoe2's Avatar
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    1. Vons - Wikipedia, the free encyclopedia

      en.wikipedia.org/wiki/Vons
      Wikipedia
      Vons is a Southern California supermarket chain and a division of Safeway, Inc. It is headquartered in Arcadia, California, and operates stores under the Vons ...
    2. .
    3. Safeway Inc. - Wikipedia, the free encyclopedia

      en.wikipedia.org/wiki/Safeway_Inc.‎
      Wikipedia
      Early acquisitions included significant parts of Piggly Wiggly chain as part of the .... 1988, Safeway exercised its option to acquire full control of Vons in Southern ...
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