This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Shareholder Alert - Buyout Of Safeway -- Shareholder Rights Law Firm Tripp Levy PLLC Seeks Higher Price For Shareholders

NEW YORK, March 6, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating the acquisition of Safeway Inc. (NYSE: SWY) on behalf of shareholders.  It was announced that the Albertson's, which is controlled by private equity firm Cerberus Capital Management L.P. agreed to acquire Safeway.  Safeway shareholders will only receive $32.50 per share in cash.  Additionally, shareholders will have the right to receive pro-rata distributions of net proceeds from primarily non-core assets worth an estimated value of $3.65 per share.

The investigation concerns whether the board of directors and senior management of Safeway breached their fiduciary duties by not engaging in a full and fair auction and process to sell the Company so that shareholders received the maximum value for their shares.  Indeed, analysts have projected that the true going forward inherent value of the Company is worth at least $46 per share, and the Company's book value is over $25.50 per share making this offer significantly less than 2x book value.  Further, it was reported that supermarket chain Kroger's was interested in acquiring Safeway for a price higher than $40 per share but that Safeway may have refused to negotiate with Kroger over potential antitrust concerns.

If you are a shareholder of Safeway and would like additional information regarding this matter, at no cost or expense, please contact us at:

Tripp Levy PLLC  New York, New York  Toll free: 1-877-772-3975  Email:

Tripp Levy PLLC is a leading securities and shareholder rights law firm that has extensive experience in securities litigation, and has assisted in the recovery of hundreds of millions of dollars for shareholders around the globe.  Tripp Levy PLLC has become affiliated with Milberg LLP.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs