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Stock Market & Financial Investment News

News Breaks
March 28, 2014
09:07 EDTSWYSafeway announces end of 'go-shop' period
Safeway announced the expiration of the 21-day "go-shop" period pursuant to the terms of the previously announced definitive merger agreement under which AB Acquisition LLC has agreed to acquire all outstanding shares of Safeway. Under the definitive merger agreement, Safeway and its representatives were permitted to solicit and engage in negotiations with respect to alternative acquisition proposals during the 21-day period that ended at 11:59 pm ET on March 27. None of the parties contacted by Safeway during the "go-shop" period notified Safeway by the deadline that they would be interested in pursuing an alternative transaction under the merger agreement. The parties to the merger agreement currently expect to complete the merger in Q4.
News For SWY From The Last 14 Days
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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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