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Stock Market & Financial Investment News

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January 23, 2013
10:42 EDTSWYAnalyst: Metro could use cash to buy some Safeway stores, Financial Post reports
After Canada's Metro Inc. netted about $416M after-tax in the sale of its stake in Alimentation Couche-Tard, Credit Suisse analyst David Hartley outlined several acquisition options it may consider, including the potential to buy the 120 stores of Overwaitea, a supermarket chain owned by Safeway (SWY), reported Financial Post. Hartley said the Safeway option may generate the most value for Metro, but the company would likely need to compromise its debt rating to make such a buy. The Fly notes shares of Safeway are up 5.25% to $19.83 in mid-morning trading. Reference Link
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December 19, 2014
16:23 EDTSWYSupervalu to provide distribution, transition services to Haggen
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16:08 EDTSWYSafeway, Albertsons confirm agreements to sell 168 stores to four buyers
AB Acquisition LLC and Safeway (SWY) announced that they have entered into agreements, subject to approval by the Federal Trade Commission to sell 168 stores across eight states to four buyers: Associated Food Stores will purchase eight stores in Montana and Wyoming; Associated Wholesale Grocers / Minyards will purchase 12 stores in Texas; SUPERVALU (SVU) will purchase two stores in Washington; and Haggen will purchase 146 stores across Arizona, California, Nevada, Oregon and Washington. Divestiture of these stores is being undertaken in order to secure FTC clearance of the companies' proposed merger, which was announced in March and is expected to close in January 2015. The purchase agreements with the four buyers are all subject to approval by the FTC. Under the terms of the purchase agreements, the buyers will acquire the stores, equipment and inventory, and they intend to hire most, if not all, of the store employees upon the closing of the purchase of the stores.

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