Albertsons parent to buy Safeway for $7.6 billion,The owner of Albertsons has agreed to acquire Safeway in a shakeup of the highly competitive local grocery market.
Safeway and Albertsons said Thursday that they have agreed to a merger in which AB Acquistion, the parent of Albertsons, will acquire Safeway for a total value to Safeway shareholders of $40 per share, or $9 billion.
The U.S. Food and Drug Administration has yet to say yes or no to genetically modified salmon, but the two largest grocery stores in the country have made up their minds. Kroger and Safeway announced today that they will
Safeway and Albertsons said Thursday that they have agreed to a merger in which AB Acquistion, the parent of Albertsons, will acquire Safeway for a total value to Safeway shareholders of $40 per share, or $9 billion.
Safeway Inc. (SWY), the second-largest U.S. grocery-store chain, agreed to be bought by Cerberus Capital Management LP's Albertsons in a deal valued at about $9.2 billion, creating a bigger competitor to Kroger Co. and big-box rivals. Safeway investors