Cerberus-Backed Albertsons Puts Up $9B for Safeway Stores

Law360, New York (March 6, 2014, 7:52 PM EST) -- Safeway Inc. is being bought by grocery store chain Albertsons, backed by New York private equity giant Cerberus Capital Management LP, in a $9 billion deal that will merge two of the largest grocery store chains in the U.S., the companies said Thursday.

In the deal, Albertsons, controlled by a Cerberus-led group of investors, will pay Safeway shareholders $32.50 per share in cash plus additional contingent payments, totaling approximately $40.00 per share and valuing the deal at about $9 billion.

The deal brings together Albertsons with...
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