- Private-equity firm Cerberus is the leading bidder for Safeway (SWY), Bloomberg reports, adding to a Reuters article that the two are close to a deal.
- The companies are still negotiating over price; Safeway's market cap is $9.09B.
- The grocery chain said last week that it's in discussions to sell itself.
- Other P-E firms are interested in buying Safeway in parts, although the company prefers to be sold in its entirety.
- Cerberus is willing to bid higher than other potential suitors, because it believes it can generate cost savings via a tie-up between Safeway and Albertsons, which the P-E company already owns.
Cerberus leads race for Safeway
Feb 23 2014, 02:51 ET