Cerberus Buys Safeway, Merges It With Albertsons For Over $9 Billion - GoFuckYourself.com

brassmonkey · 03-07-2014, 11:46 AM

After a long courtship, private equity giant Cerberus Capital Management agreed to buy Safeway for over $9 billion on Thursday afternoon.

Safeway, the 2nd-largest grocer in the US, will merge with Albertson?s, the 5th-largest grocer, which Cerberus bought from SuperValu last year. The deal will give Safeway shareholders an estimated $40 per share, including $32.50 in cash.

The deal making may not be over soon, though. Kroger , the country?s largest grocer (nearly twice as large as Safeway by revenue), is reportedly considering making its own offer for its competitor. The company previous outbid Cerberus for the Harris Teeter chain of supermarkets, paying $2.4 billion last summer.

?Safeway has been focused on better meeting shoppers? diverse needs through local, relevant assortment, an improved price/value proposition and a great shopping experience that has driven improved sales trends,? Safeway CEO Robert Edwards said in a statement. ? We are excited about continuing this momentum as a combined organization.?

? This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country,? Albertsons CEO Bob Miller said. ?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.?

Safeway has more than 1,300 stores in the US. It ended the day trading at $39.47, but the stock fell over 3.5% after hours.

http://www.forbes.com/sites/briansol...ver-9-billion/

Just Alex · 03-07-2014, 11:53 AM

Important news for adult webmasters.

Vendzilla · 03-07-2014, 12:16 PM

I think Safeway owns Vons here in LA

Captain Kawaii · 03-07-2014, 12:19 PM

Consumers are probably screwed. Porn sales could be affected.

thegreatestporn · 03-07-2014, 12:19 PM

Quote:

Originally Posted by Vendzilla

I think Safeway owns Vons here in LA

Ya, and Pavilion's I think too.

CDSmith · 03-07-2014, 12:30 PM

Cerberus. Anyone who's played Mass Effect knows that Cerberus is an evil organization hell-bent on taking over the galaxy. Safeway is just the start.

I will no longer shop there.

brassmonkey · 03-07-2014, 12:46 PM

Quote:

Originally Posted by CDSmith

Cerberus. Anyone who's played Mass Effect knows that Cerberus is an evil organization hell-bent on taking over the galaxy. Safeway is just the start.

I will no longer shop there.

the prices are going to go up

no more 2 for $5

candyflip · 03-07-2014, 12:51 PM

They all suck and don't hold a candle to Wegmans.

MK Ultra · 03-07-2014, 01:57 PM

that's awesome, the area I live in only has two major supermarkets within 15 miles

Albertsons and Vons

Yay freedom from choice!

03-07-2014, 11:46 AM	#1
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 76,944	Cerberus Buys Safeway, Merges It With Albertsons For Over $9 Billion After a long courtship, private equity giant Cerberus Capital Management agreed to buy Safeway for over $9 billion on Thursday afternoon. Safeway, the 2nd-largest grocer in the US, will merge with Albertson?s, the 5th-largest grocer, which Cerberus bought from SuperValu last year. The deal will give Safeway shareholders an estimated $40 per share, including $32.50 in cash. The deal making may not be over soon, though. Kroger , the country?s largest grocer (nearly twice as large as Safeway by revenue), is reportedly considering making its own offer for its competitor. The company previous outbid Cerberus for the Harris Teeter chain of supermarkets, paying $2.4 billion last summer. ?Safeway has been focused on better meeting shoppers? diverse needs through local, relevant assortment, an improved price/value proposition and a great shopping experience that has driven improved sales trends,? Safeway CEO Robert Edwards said in a statement. ? We are excited about continuing this momentum as a combined organization.? ? This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country,? Albertsons CEO Bob Miller said. ?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.? Safeway has more than 1,300 stores in the US. It ended the day trading at $39.47, but the stock fell over 3.5% after hours. http://www.forbes.com/sites/briansol...ver-9-billion/ __________________ TRUMP 2025 KEKAW!!! - Support The Laken Riley Act!!! END DACA - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

03-07-2014, 11:53 AM	#2
Just Alex Liv Benson to You, Bitch Industry Role: Join Date: Aug 2007 Location: Maryland and WV Posts: 6,060	Important news for adult webmasters. __________________

03-07-2014, 12:16 PM	#3
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,201	I think Safeway owns Vons here in LA __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that

03-07-2014, 12:30 PM	#6
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	Cerberus. Anyone who's played Mass Effect knows that Cerberus is an evil organization hell-bent on taking over the galaxy. Safeway is just the start. I will no longer shop there. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

03-07-2014, 12:51 PM	#8
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,052	They all suck and don't hold a candle to Wegmans. __________________ Spend you some brain. Email Me

03-07-2014, 12:19 PM	#4
Captain Kawaii So Fucking Banned Industry Role: Join Date: Oct 2007 Posts: 6,748	Consumers are probably screwed. Porn sales could be affected.

03-07-2014, 01:57 PM	#9
MK Ultra Confirmed User Join Date: Jun 2007 Posts: 877	that's awesome, the area I live in only has two major supermarkets within 15 miles Albertsons and Vons Yay freedom from choice! __________________