Cerberus reaches preliminary $9B buyout of Safeway

A group of investors led by private equity firm Cerberus Capital Management scored a deal to buy Safeway for about $9.2 billion, beatingout rival grocery store chain Kroger, according to Fox News.

Safeway employs some 138,000 to make it the No. 2 U.S. grocery chain.

The acquisition would add to Cerberus’s portfolio of grocery stores, which already includes No. 5 chain Albertsons.

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