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Stock Market & Financial Investment News

News Breaks
February 21, 2013
12:42 EDTSWYSafeway CEO says REIT structure evaluated, doesn't find 'application' currently
In response to an analyst question on its Q4 earnings conference call, Safeway CEO Steve Burd acknowledged the company evaluated the value of doing a REIT, or Real Estate Investment Trust, "years ago" and "looked at it again" more recently. Burd said the company will likely address that at its upcoming investor conference, but added "we don't find general application for that with our current business." In response to a question about speculation regarding plans to divest its Canadian unit, Burd joked there has been speculation about selling an asset of Safeway "every year that I have been CEO." The CEO said the Canadian asset is "a very good business" but added that the company looks "at all kinds of ways to increase shareholder value."
News For SWY From The Last 14 Days
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January 30, 2015
08:37 EDTSWYAlbertsons and Safeway complete merger transaction
AB Acquisition and Safeway (SWY) announced that they have completed their proposed merger. Under the terms of the merger agreement first announced and unanimously approved by Safeway's board in March 2014, AB Acquisition LLC, the owner of Albertson's LLC and New Albertson's, will acquire all outstanding shares of Safeway. AB Acquisition is controlled by an investor group led by Cerberus Capital Management, which also includes Kimco Realty (KIM), Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation.
January 28, 2015
06:17 EDTSWYAlbertsons and Safeway receive FTC clearance for proposed merger
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January 27, 2015
14:16 EDTSWYSafeway confirms FTC clearance for proposed Albertsons merger
Albertsons and Safeway announced that they have received clearance from the U.S. Federal Trade Commission for the companies' proposed merger which was announced on March 6, 2014. The FTC's clearance follows Albertsons' and Safeway's agreement to a proposed consent order, which includes a commitment to divest 168 stores. As previously announced, Albertsons and Safeway entered into agreements to sell such stores to four FTC-approved buyers. Albertsons and Safeway also agreed to settlements with the attorneys general of California, Nevada and Washington. Albertsons and Safeway expect to complete the merger within the next five business days.
12:49 EDTSWYSafeway agrees to sell 168 stores to settle FTC concerns with Albertsons merger
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January 23, 2015
17:18 EDTSWYHCA Holdings to replace Safeway in S&P 500 as of 1/26 close
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