- It's all happening: the Albertsons-Safeway merger, following clearance by the FTC just a few days ago, is done. This is within the five business day window it was projected to be finished in.
- As per the terms lined out in March, AB Acquisition LLC - which owns Albertsons - will receive all Safeway's outstanding shares.
- "Effective immediately," Robert Edwards, Safeway's CEO and president will take charge as president and CEO of the merged operation, according to a news release.
This has been in the works for quite some time, but it appears both companies are happy with how it has all come together.
This new operation entails 2,230 stores and more than 250,000 employees spanning 34 states plus Washington, DC, according to a news release.
"This is a transformative day for both Albertsons and Safeway. This merger creates a unified, strong organization that is dedicated to bringing a better shopping experience to more customers across the country," says Albertsons CEO Bob Miller who will now serve as executive chairman.