|[March 06, 2014]
Safeway Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Investigate Acquisition of Safeway, Inc. by AB Acquisition LLC
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of Safeway, Inc. ("Safeway") (NYSE: SWY) related to the sale
of Safeway to AB Acquisition LL. Under the terms of the definitive
buyout agreement, Safeway shareholders will only receive a total value
estimated at $40 per share. This consideration is well below at least
one analyst's estimated value of $46.00 per share. The transaction is
valued at approximately $9.4 billion.
If you are an affected investor, and you want to learn more about the
lawsut or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
The Safeway investigation centers on whether Safeway's Board of
Directors is acting in the shareholders' best interests, whether the
board is properly considering the proposed price for the shareholders,
and whether the board has employed an adequate process to review and act
on the proposed transaction. Notably, at least one analyst with Yahoo!
Finance estimates that Safeway shares could be worth as much as $46.00
per share. Furthermore, in the last 30 days prior to the merger
announcement, Safeway stock increased in value nearly 30%. "Based on the
recent sharp increase in the value of Safeway shares, reports indicating
that the true inherent value of the shares may be as high as $46.00 per
share, and other factors, we are very concerned that this may not be a
fair deal to SWY shareholders," said shareholder rights attorney Willie
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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