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Reuters: Safeway a target for possible buyout

BY Michael Johnsen

NEW YORK — All or part of Safeway soon may be a target for a possible buyout, according to a Reuters report published Wednesday morning citing people familiar with the matter. 

According to the report, several buyout firms, including Cerberus Capital Management, are exploring a deal for the supermarket chain currently valued at $8 billion. 

Safeway is not running an auction; however, executives are aware of the interest and are reviewing options with Goldman Sachs Group, Reuters reported. 

 

 

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WSJ: McKesson preparing to acquire German drug distributor Celesio

BY Michael Johnsen

NEW YORK — McKesson appears ready to pull the trigger on an offer for German drug distributor Celesio, The Wall Street Journal reported Wednesday

Citing people familiar with the potential deal, McKesson is valuing Celesio at as much as $5.4 billion. 

The acquisition is expected to significantly expand McKesson’s economy of scale, according to the report. 

 

 

 

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Safeway, Sobeys to close deal on Safeway Canada next month following consent of Canada’s Competition Bureau

BY Michael Johnsen

PLEASANTON, Calif. — Safeway on Tuesday afternoon announced that Canada’s Competition Bureau has entered into a consent agreement with Sobeys, allowing the parties to proceed with their transaction whereby Sobeys will acquire the net assets of Canada Safeway.  

The parties now expect to close the transaction in early November 2013.

As part of the consent agreement, Sobeys has agreed to divest 23 stores — 13 Canada Safeway stores and 10 Sobeys stores.

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