Safeway, Inc. Merger Litigation (NYSE: SWY)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Safeway, Inc. - SWY
BALA CYNWYD, March 7, 2014 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Safeway, Inc. (“Safeway” or the “Company”) (NYSE –SWY-News) relating to the proposed acquisition by Cerberus Capital Management, L.P. (“Cerberus”).
Under the terms of the transaction, Safeway shareholders will receive only $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, and shares of Blackhawk Network Holdings for each share of Safeway stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Safeway for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as an analyst has set a $46.00 per share price target on Safeway stock and it has been reported that Safeway’s owned real estate may be worth approximately 8 billion dollars.
If you own shares of Safeway common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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