Kroger Said to be in Talks with Cerberus and Safeway


Mon. March 3rd, 2014 - by Jordan Okumura-Wright

<p>Kroger, who is said to be eyeing a possible Safeway acquisition, is also reportedly in talks with Cerberus Capital Management LP over the Safeway deal. The private-equity firm that is the lead bidder for Safeway, has been contacted by Kroger about buying some stores that Cerberus may not want, according to Bloomberg. Bloomberg cited people with knowledge of the matter.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Safeway and Kroger shares appear to be on the rise. Safeway closed at $37.45 on Feb. 28, with shares climbing almost 2 percent to $38.14 as of 1:16 p.m. in New York today. Kroger, based in Cincinnati, increased less than 1 percent to $42.05.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">According to the report, Safeway, the nation’s second-largest grocery chain, would prefer to be sold in its entirety. A Safeway sale to either Cerberus or Kroger may raise objections from antitrust regulators and splitting off some of Safeway’s assets could remedy those concerns. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Stay tuned to AndNowUKnow as the story develops.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.safeway.com/ShopStores/Investors.page#iframetop" target="_new"> Safeway </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">