Safeway Shares Priced: Safeway Inc., based in...
From Times Staff and Wire Reports
Safeway Shares Priced: Safeway Inc., based in Oakland, said it will offer 10 million shares today at $11.25 a share, well below the $13 to $16 per share at which the supermarket company had expected to make the offering. Brian E. Suher, an analyst with the Portland, Ore., investment firm of Black & Co., said the cheaper price indicated disenchantment on the part of institutional investors with Kohlberg Kravis Roberts, the beleaguered leveraged-buyout firm that bought Safeway for $5.7 billion in 1986 and is its largest investor.
