Potential Vons-Albertsons Merger Gets Safeway Shareholder OK
LOS ANGELES (CBSLA.com) — A proposed supermarket takeover involving Vons' parent company took a step toward approval after Safeway shareholders voted Friday to accept a $9.2 billion purchase offer from Albertsons.
During a meeting near San Francisco, 96 percent of Safeway shareholders voted to accept the proposal, which would create the nation's second-largest supermarket chain, according to the San Jose Mercury News, sending it on to federal regulators. Kroger, which owns and operates Ralphs stores in California, would still be larger than the combined chains.
Albertsons has 181 stores in Southern California while Safeway operates 279 Vons locations. Albertsons has not indicated what it plans to do regarding store locations or names if the purchase is approved, but the Federal Trade Commission could order the retailer to sell some of its stores to other competitors, the Mercury News reported.
Traditional supermarkets continue to face pressure from both big-box stores and specialty grocers, according to analysts who follow the sector.
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