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US: Safeway grocer approaching buyout deal

By  |  February 23, 2014

US grocery chain Safeway is reportedly in advanced talks to acquire a rival business in a deal that could be finalized as early as within a few weeks, according to sources.

Reports say Safeway is in merger talks with Cerberus Capital Management to be wholly acquired by its Albertsons supermarket chain; such an acquisition would lead to a dominant market position in the West Coast.

The sources noted that no buyout deal has been finalized, and that discussions would not necessarily lead to a deal.

Reports say that if such a transaction were to go through, competition concerns may arise win Southern California, where both grocers hold significant market shares.

Full Content: Reuters

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