Safeway, Albertsons merger proceeds to next step as 'go-shop' period expires

PLEASANTON, Calif. — Safeway on Friday announced the expiration of the 21-day "go-shop" period pursuant to the terms of the previously announced definitive merger agreement under which AB Acquisition has agreed to acquire all outstanding shares of Safeway.

Under the definitive merger agreement, Safeway and its representatives were permitted to solicit and engage in negotiations with respect to alternative acquisition proposals during the 21-day period. None of the parties contacted by Safeway during the "go-shop" period notified Safeway by the deadline that they would be interested in pursuing an alternative transaction under the merger agreement.

The parties to the merger agreement currently expect to complete the merger in the fourth quarter of 2014 following the satisfaction of customary closing conditions.

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