Albertson Purchase Of Safeway OK’d

Safeway shareholders have approved the company’s $9.2 billion sale to Albertsons, a deal that comes amid fierce competition for the combined supermarket chains from a host of foes. About 96 percent of the outstanding shares of Safeway were voted in favor of the merger at a meeting Friday at Safeway’s headquarters in Pleasanton, Calif. The deal still needs to clear a review by the Federal Trade Commission, which could require Safeway, or Albertsons, or both, to divest some stores for competitive reasons. But Safeway spokesman Brian Dowling said, “We don’t expect any stores to close as a result of the transaction”/ Contra Costa Times . More here.

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