USA: Safeway Announces Acquisition of Genuardi's
Safeway Inc. (NYSE:SWY) and Genuardi's Family Markets, Inc. jointly announced today that they have signed a definitive agreement pursuant to which Safeway will acquire Genuardi's in a cash transaction. The acquisition will be accounted for as a purchase and is expected to be funded with proceeds from the sale of commercial paper. Safeway expects the transaction to be accretive in 2001.
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