Well, Safeway has an enterprise value - which unlike market cap includes cash and total debt - of $37.29 per share and Cerebus is paying $40.00 per share. That works out to a premium of only 7.28%.
Couldn't the company have held out for at least an even 10% premium, if they're going to accept such a low ball buyout price?
7% premium is fair, it has already run up more than it is worth. Their model isn't much different than Albertsons, it's not like they have something that is special. They aren't a pharma or technology company.
Yes, I know. I only mentioned the 10% premium because it's a nice round number. There's just something about me and nice round numbers. ;^P