Sunday, 29 November 2015
Last updated 2 days ago
Mar 7 2014 | 3:08am ET
Cerberus Capital Management is to buy grocery giant Safeway Inc. and will merge it with another supermarket chain it already owns.
The private-equity firm will pay more than $9 billion for Safeway, the second-largest supermarket chain in the U.S. The deal follows months of talks between the two sides and includes a break-up fee of between $150 million and $250 million, should a higher offer emerge during Safeway’s go-shop period.
Among the potential competitors during that period is Kroger Co., which last year beat out Cerberus for Harris Teeter Supermarkets.
The combined Safeway-Albertsons would have more than 2,400 stores.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…