- Published: Thursday, March 06 2014 23:43
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.
“This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. It also brings together two great organizations with talented management teams,” said Bob Miller, CEO, Albertsons. “Working together will enable us to create cost savings that translate into price reductions for our customers. Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before.”Write comment (0 Comments)