NEW YORK Dec 4 Activist investor Jana Partners
LLC said in a regulatory filing on Wednesday that it reduced its
stake in Safeway Inc, saying it was pleased with the
steps the grocer has taken to exit the Chicago market and review
Jana reported in a filing with the U.S. Securities and
Exchange Commission that it held 10.1 million Safeway shares, or
4.1 percent of shares outstanding, down from 6.2 percent in
September. The reduction included a sales of 3 million shares on
Monday. Jana bought its shares at an average price of $26.67.
Shares on Wednesday closed down 2.2 percent at $34.21.
In September, Jana disclosed it had taken a stake in Safeway
and that it had held talks with the company about reviewing
strategic alternatives, including exiting weak markets. In
October, Safeway announced its was leaving the very competitive