Mar. 6, 2014, 5:10 PM
- As rumored, Supermarket chain owner Albertsons, controlled by an investor group led by P-E firm Cerberus, is acquiring Safeway (SWY). Investors are unhappy with the specific deal terms. (PR)
- Albertson's will pay $32.50/share in cash, distribute proceeds from the sale of Safeway's real estate subsidiary assets and Casa Ley stake (estimated value of $3.65/share), and distribute Safeway's 37.8M Blackhawk Network (HAWK) shares (current value of $3.95/share).
- The deal is expected to close in Q4, has a $400M termination fee, and comes with a 21-day go-shop period. Albertsons plans to fund the deal with the help of $7.6B in debt financing.
Feb. 19, 2014, 4:18 PM
- In tandem with its Q4 results, Safeway (SWY) announces it's "in discussions concerning a possible transaction involving the sale of the company."
- The company also says it's exploring options for monetizing its 49% stake in Mexican grocery store chain Casa Ley, and has decided to distribute its 37.8M-share, 72.2% stake in Blackhawk Network (HAWK) to shareholders. Blackhawk shares are down 1.2% AH.
- Q4 results, PR
- Previous: Safeway reportedly open to talks with P-E firms
HAWK vs. ETF Alternatives
Blackhawk Network Holdings Inc is engaged in providing various payment products. It offers gift cards, prepaid products, telecom and debit cards in physical and electronic forms and payment services in the United States and other countries.
Other News & PR