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Tuesday, January 27, 2015

Albertsons and Safeway agree to divest 168 stores to win antitrust approval for merger, (NYSE: SVU)

Supermarket chains Albertsons and Safeway agreed to sell 168 stores in eight states to win U.S. antitrust approval for their $9.2 billion merger, the Federal Trade Commission said on Tuesday.Albertsons, which has 630 supermarkets under various brand names, and Safeway, which has 1,332 stores, will divest stores in Arizona, California, Montana, Nevada, Oregon, Texas, Washington, and Wyoming, the FTC said.Albertsons is owned by Cerberus Capital Management. The transaction was announced in March.The divested stores will be purchased by Haggen Holdings, LLC, Supervalu Inc, Associated Wholesale Grocers, Inc and Associated Food Stores Inc.

SUPERVALU INC. (SUPERVALU) is a United States-based wholesale grocery firm. Shares of SVU fell by 0.29% or $-0.03/share to $10.27. In the past year, the shares have traded as low as $5.38 and as high as $10.38. On average, 2782970 shares of SVU exchange hands on a given day and today's volume is recorded at 1730797.