FTC wants info from Safeway, again
Safeway said on March 6 that it agreed to acquired by an investor group led by Cerberus Capital Management for more than $9 billion. The deal will merge Albertsons with Safeway, which is the second-largest U.S. grocery chain.
The transaction will create a network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 employees. However, no store closures are expected.
Safeway noted that the second request by the FTC will extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after Safeway and Albertsons have substantially complied with the request. The compans also said that the company and Albertsons will continue to work cooperatively with the FTC. ■