Safeway Announces Merger With Albertsons - Quick Facts

(RTTNews) - Safeway Inc. (SWY) Thursday announced agreement with Albertsons LLC, pursuant to which AB Acquisition LLC, the owner of Albertsons, will acquire Safeway for an all-cash offer of $32.50 per share.

Additionally, shareholders will also acquire rights to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share.

As a result of the Merger, and other actions like separating sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share.

"The combined value of the transactions described above is expected to deliver a premium to Safeway's shareholders of 72 percent from one year ago, and 56 percent over the share price six months ago," said Robert Edwards, President & CEO. "