Safeway And Albertson's Announce Grocery Merger

Private equity firm Cerberus Capital Management is offering $9.4 billion for Safeway, the nation's second-largest grocery. It plans to combine Safeway with Albertson's which it acquired a year ago.

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LINDA WERTHEIMER, HOST:

NPR's business news starts with a $9 billion grocery sale.

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WERTHEIMER: The no. 2 grocery chain in the U.S., Safeway, is being acquired by the owner of Albertson's, the fifth largest grocer. Cerberus Capital Management is paying just over $40 a share for Safeway, the company said last night. The multi-billion-dollar deal creates a food retailer with more than 2,400 stores and more than 250,000 employees.

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