Safeway said Friday that no other bidders have emerged during the 21-day “go-shop” period following the announcement of its agreement to be acquired by AB Acquisition, the parent of Albertsons.
Under terms of the agreement, Safeway was permitted to negotiate with other potential bidders until midnight March 27. Safeway said “none of the parties contacted” by the company during that period have notified Safeway that they would be interested in pursing an alternative transaction.
Kroger Co., Cincinnati, was thought by some industry observers to be a potential alternative bidder.
As of Friday, Safeway is limited in its ability to solicit alternative acquisition proposals. It said it expects the merger to be completed in the fourth quarter of this year pending customer closing conditions, including approval by shareholders and an antitrust review.
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