US supermarket group Safeway has said no rival bidders have come forward during the “go shop” period following the announcement of its agreement to be acquired by Albertson’s owner AB Acquisition.
Under the merger agreement, Safeway was permitted to solicit competing offers during a 21-day period, which ended yesterday (27 March).
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“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 company said in a statement today.
The transaction is now expected to close in the fourth quarter of 2014.
