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Albertsons parent Cerberus is buying Safeway for more than $9 billion
Albertsons parent Cerberus is buying Safeway for more than $9 billion

Albertsons is making a play for the top spot in the U.S. grocery industry with the purchase of rival Safeway for more than $9 billion in cash and stock. Safeway, now the second-largest chain behind Kroger Co., owns the Vons and Pavilions brands in Southern California. With the purchase, Albertsons would operate more than 2,400 stores, compared with Kroger's 2,640. The companies said no stores would be closed as part of the transaction, although executives said that the Federal Trade Commission could require divestitures. The combined entity would employ more than a quarter of a million workers, giving it one of the largest head counts in corporate America. Wall Street seemed...

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