Safeway Inc (SWY.N)
|Market Cap (Mil.):||$8,901.09|
|Shares Outstanding (Mil.):||230.30|
LONDON, March 11 - Euan Sutherland, the man tasked with rescuing Britain's 170-year old Co-operative Group , quit on Tuesday and warned it was impossible to reform the mutually owned company unless its directors adopted a more commercial approach.
(The following statement was released by the rating agency) CHICAGO, March 07 (Fitch) Fitch Ratings expects to downgrade Safeway Inc. to the 'B' category assuming the acquisition of the company by AB Acquisition LLC, as announced yesterday, is completed as proposed. AB Acquisition is the Cerberus-controlled entity that owns the Albertson's supermarket banners, among others. Post the transaction, leverage is expected to be in the 6x range versus 3.6x at year-end 2013. Fitch's current Issuer
March 7 - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:
NEW YORK, March 7 (IFR) - Investors have been put on high alert regarding the need for covenant protection in investment-grade corporate bonds, after being rattled by this week's US$9.4bn LBO of Safeway and last month's scare when Time Warner Cable was saved at the eleventh hour from a hostile bid.
* Indexes up: Dow 0.35 pct, S&P 0.16 pct, Nasdaq 0.19 pct
NEW YORK, March 7 - U.S. stocks were set for a higher open on Friday after more jobs than expected were created in February, with traders keeping an eye on lingering tensions in Ukraine.
NEW YORK, March 7 - U.S. stock index futures edged higher on Friday, with the S&P 500 set to close a fourth week of gains in five, ahead of key jobs market data and amid lingering tensions in Ukraine.
March 7 - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Friday:
- Safeway Inc , the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion.
March 6 - Safeway Inc, the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion.