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Mario Gabelli Comments on Safeway Inc.

April 30, 2014 | About:
Holly LaFon

Holly LaFon

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Safeway Inc. (SWY)(1.0%) (SWY - $36.94 - NYSE), based in California, is the third largest food and drug retailer in North America, with over 1,300 stores. On March 6, 2014, the company entered into a $9 billion merger with Albertsons grocery chain, which is controlled by Cerberus Capital Management, L.P. The offer consists of $32.50 in cash, the distribution of 37.8 million shares of Blackhawk Network Holdings, and a contingent value right (tied to real estate and Safeway's interest in a Mexican food retailer) estimated at $3.65 per share. The offer included a "go-shop" period, which expired on March 27, 2014. The merger is expected to close by the end of 2014, pending regulatory approval and the shareholder vote.

From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.


Rating: 0.0/5 (0 votes)

Comments

nick509610
Nick509610 - 1 month ago

$SWY check it out historical price reaction following Earnings:

http://stocksearning.com/stock_detail.aspx?Sys=SWY&ComName=

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