Large Safeway (SWY) Deal Lifts Grocery Segment (SWY( (KR)
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Short Covering Expected in Safeway (SWY)
June 13, 2013 9:52 AM EDTOn Wednesday it was learned that Safeway (NYSE: SWY) sold Safeway Canada for C$5.8 billion or 10.7x EBITDA. In the view of analyst Shane Higgins of Deutsche Bank, the transaction is positive for Safeway and could trigger short covering.
"We believe... More
Safeway (SWY) to Sell Canadian Ops to Sobeys for C$5.8B
June 12, 2013 4:22 PM EDTSafeway, Inc. (NYSE: SWY) entered into an agreement to sell its Canadian operations through a sale of the net assets of Canada Safeway Limited to Sobeys Inc., a Canadian food retailer and wholly-owned subsidiary of Empire Company Limited, for C$5.8 billion in cash (about... More
Sobeys to Acquire Safeway Canada (SWY) for C$5.8B
June 12, 2013 4:22 PM EDTEmpire Company Limited (TSX: EMP.A) and its wholly-owned subsidiary Sobeys announced that Sobeys has reached a definitive agreement with Safeway (NYSE: SWY) to acquire substantially all of the assets of Canada Safeway for a cash purchase of C$5.8 billion.... More
