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Law Firm Kirby McInerney LLP Investigating Potential Claims On Behalf Of Safeway Inc. Stockholders

Stocks in this article: SWY

Kirby McInerney LLP is investigating potential claims against the Board of Directors of Safeway Inc. (“Safeway” or the “Company”) (NYSE:SWY) concerning the proposed acquisition of the Company by the private equity firm, Cerberus Capital Management, L.P. (“Cerberus”). Under the terms of the definitive merger agreement, Safeway stockholders are expected to receive a total value estimated at $40.00 per share, including $32.50 in cash per share of Safeway stock owned, the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share, and a distribution of Blackhawk Network Holdings, Inc. common stock, valuing the transaction at approximately $9.4 billion.

The investigation concerns whether the Safeway Board of Directors violated its fiduciary duties by agreeing to the proposed transaction and whether the proposed consideration adequately values Safeway’s common stock.

If you are a Safeway stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.

Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.

Copyright Business Wire 2010

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