WASHINGTON--(BUSINESS WIRE)--The law firm of Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Safeway Inc. (NYSE: SWY) (“Safeway” or “the Company”), concerning the Company’s proposed acquisition by Cerberus Capital Management, L.P. Under the terms of the proposal, Safeway shareholders will receive value estimated at $40.00 for each share of Safeway they own, including $32.50 in cash, the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share, plus shares of Blackhawk Network Holdings, Inc. At least one analyst has set a target price of $46.00 for Safeway shares. The entire transaction is valued at approximately $9 billion.
The investigation is focused on whether Safeway’s Board of Directors breached its fiduciary duty in failing to maximize consideration to shareholders, the potential unfairness of the consideration to shareholders, the process by which the Board considered the transaction, and potential conflicts of interest among the Company’s Board members.
If you are interested in discussing your rights as a Safeway shareholder, or have information relating to this investigation, please contact Finkelstein Thompson’s Washington, DC offices at (877) 337-1050 or (202) 337-8000, or by email at firstname.lastname@example.org.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.
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