The sale of retail group Albertson’s to Supervalu, CVS, and a consortium led by Cerberus Capital has cleared regulatory approval by the FTC following the expiry of the pre-merger waiting period required by law.
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Alberston’s said the pre-merger waiting period for the proposed deal had expired, indicating that the Federal Trade Commission (FTC) had completed its pre-merger review stipulated by the Hart-Scott-Rodino Antitrust Improvements Act of 1976. No divestiture of retail stores or other assets was required and the FTC imposed no conditions or restrictions on the transaction, the company said.
However, the proposed transaction remains subject to the satisfaction of customary closing conditions, including approval by both Albertson’s and Supervalu shareholders. It is expected to be finalised by the middle of the year.
