STELLARTON, Nova Scotia — Canadian grocery industry observers were waiting for another shoe to drop following Empire Co.'s announcement that it would buy the shares of Sobeys it did not already own at a 53% premium and take the retailer private. The deal, which one analyst called “stunning,” left observers speculating how Empire would fund the nearly $1 billion (U.S.) purchase, which values Sobeys stock at $58 (Canadian) a share at a time it was trading at around $38 a share. Also left open ...
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