Key Developments: Safeway Inc (SWY.N)

SWY.N on New York Stock Exchange

11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Wolf Haldenstein Adler Freeman & Herz LLP Commences Class Action Lawsuit Against Safeway Inc
Tuesday, 27 May 2014 06:20pm EDT 

Wolf Haldenstein Adler Freeman & Herz LLP:Files class action lawsuit in united States District Court, Northern District of California on behalf of all holders of Safeway Inc. common stock.Ation names as defendants company, its Board, Albertson's LLC, Saturn Acquisition Merger Sub, Inc. and Cerberus Capital Management L.P. for, among other things, violations of Sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 and Rule 14a-9 promulgated thereunder.Complaint arises out of a March 6, press release issued by Safeway announcing that individual defendants had agreed to sell company to Albertson's for $32.50 per Safeway share plus special dividends.Says CVRs related to planned disposition of certain of the Company's "non-core assets," estimated to be worth $3.65 per share.In addition, Safeway intends to distribute the 37.8 mln shares it owns in Blackhawk Network Holdings, Inc. to shareholders in mid-April 2014.Blackhawk distribution has current value of $3.95 per Company share.All together, the Proposed Transaction will result in a consideration for Safeway shareholders worth abouy $40 per share.  Full Article

Robbins Arroyo LLP announces class action lawsuit against Safeway Inc
Thursday, 15 May 2014 08:26pm EDT 

Safeway Inc:Says shareholder rights attorneys at Robbins Arroyo LLP announces that the firm filed a class action lawsuit on May 15 in the U.S. District Court, Northern District of California, Oakland Division.Class action on behalf of the shareholders of Safeway Inc against Safeway, its Board of Directors, for, violations of sections 14(a) and 20(a) of the U.S. Securities and Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 14a-9 promulgated thereunder.The complaint arises out of a March 6 press release announcing that Safeway had entered into a definitive merger agreement with Albertson's, pursuant to which Safeway shareholders would receive, for each Safeway share they own, $32.50 in cash.And the right to receive pro-rata distributions of net proceeds from primarily non-core assets, estimated to be worth $3.65 per share.The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated shareholders of Safeway as of March 6, 2014.The named plaintiff is represented by Robbins Arroyo LLP.  Full Article

Safeway Inc declares quarterly dividend
Wednesday, 14 May 2014 04:03pm EDT 

Safeway Inc:Approved an increase to its regular quarterly cash dividend from $0.20 per share to $0.23 per share.Payable on July 10, to stockholders of record on June 19.  Full Article

Safeway completes sale of Blackhawk Network Holdings Inc shares
Monday, 14 Apr 2014 04:05pm EDT 

Safeway Inc:Completes distribution to its stockholders of 37,838,709 shares of Class B common stock of Blackhawk Networks Holdings Inc owned by Safeway.Safeway no longer owns any shares of Class B common stock of Blackhawk.  Full Article

Safeway Inc declares special stock dividend to spin-off Blackhawk Network Holdings, Inc
Monday, 24 Mar 2014 04:05pm EDT 

Safeway Inc:Declares a special stock dividend to its stockholders of all of the 37,838,709 shares of Class B common stock of Blackhawk Network Holdings, Inc. owned by Safeway.Payable on April 14.Blackhawk Class B common stock are not traded on any stock exchange but, upon completion of the spin-off, are expected to trade on the Nasdaq Global Select Market under the symbol "HAWKB".  Full Article

Rigrodsky & Long, P.A. announces class action lawsuit has been filed against Board of directors of Safeway Inc
Thursday, 13 Mar 2014 06:07pm EDT 

Rigrodsky & Long, P.A:Announces a complaint alleging breaches of fiduciary duty and other violations of law has been filed in California Superior Court, Alameda County against the board of directors of Safeway Inc. ("Safeway or the company.In connection with the Company's entry into an agreement to be acquired by Albertsons in a transaction valued at approximately $9 billion.Under the terms of the agreement, public shareholders of Safeway will receive value estimated at $40.00 per share for each share of Safeway they own.This includes $32.50 in cash, the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share, and shares of Blackhawk Network Holdings, Inc.The complaint alleges that Safeway's board of directors failed to adequately shop the Company and obtain the best possible value for Safeway's shareholders before entering into an agreement with Albertsons.According to Yahoo! Finance, at least one analyst has issued a price target for Safeway stock at $45.00 per share.  Full Article

Safeway Inc declares quarterly dividend
Thursday, 13 Mar 2014 09:00am EDT 

Safeway Inc:Declares regular quarterly cash dividend of $0.20 per share.Cash dividend will be payable on April 10 to stockholders of record at the close of business on March 24.  Full Article

Safeway Inc and Albertsons announce definitive merger agreement
Thursday, 6 Mar 2014 04:53pm EST 

Safeway Inc and Albertsons:Says a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway.AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc and is controlled by a Cerberus Capital Management, L.P. (Cerberus)-led investor group, which also includes Kimco Realty Corporation, Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation.  Full Article

Safeway Inc gives FY 2014 mixed earnings guidance
Wednesday, 19 Feb 2014 04:05pm EST 

Safeway Inc:Expects FY 2014 diluted earnings per share (EPS) in the range of $1.15 to $1.35 (excluding any debt retirement or stock repurchases in 2014).Expects FY 2014 adjusted EBITDA in the range of $1.66 billion to $1.76 billion.FY 2014 EPS of $1.68 and EBITDA of $1.64 billion - Thomson Reuters I/B/E/S.  Full Article

Whole Foods Market Inc acquires seven dominick's leases from Safeway Inc
Monday, 3 Feb 2014 04:05pm EST 

Whole Foods Market Inc:Says the acquisition of leases from Safeway Inc. for seven locations formerly operated as Dominick's stores.Says terms of the agreement were not disclosed.  Full Article

Sobeys to close underperforming stores, cut jobs -Globe and Mail

June 26 - Grocery chain Sobeys Inc plans to close its underperforming stores and lay off employees after its C$5.8 billion acquisition of rival Safeway Inc's Canadian arm, the Global and Mail reported on Wednesday.

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