Safeway is merging with Albertsons in a deal valued at about $9.2 billion.
Both grocery store chains have a substantial presence in Washington state. Safeway has 19 locations in Seattle alone; Albertsons has about 60 stores in the state.
Albertsons owner, Cerberus Capital Management LP, will pay $40 a share to merge two of the largest supermarket chains in the U.S. Cerberus investor partners in the acquisition include Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners LP and Schottenstein Stores Corp.
Safeway’s board of directors has unanimously approved the deal. read more »