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The Wall Street Journal: Safeway to pay hedge funds $44.50 a share to settle buyout suits

2015-06-02 20:13:20| Grocery - Topix.net

Safeway Inc. will pay a group of investment funds about 27% more than other shareholders received when the grocery chain was sold to private-equity-backed Albertsons earlier this year for $7.6 billion, a big win for hedge funds that challenge deals in court. Albertsons will pay three funds, which owned about 6% of Safeway stock, $44.50 a share in cash, or about $134 million more, as part of a court settlement in a buyout-related lawsuit, according to people familiar with the matter.

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