I don't think it's a smart strategy to sell the best asset and keep the troubled rest. Huge tax bill. Huge debt pay down required just to keep credit ratings stable. Remaining margin profile diluted. Don't like this move.
Canada was not the best asset. NorCal Division is the best asset.
exactly. down to 27.6
Citigroup already downgraded the shares this morning - pre-market prints at $28
You are wrong, Safeway will pay down debt and buy back shares with the proceeds. Shorts are screwed more hurt to come!
Sentiment: Strong Buy
Next , Safeway goes private, sells the eastern divisions, cuts backstage overhead and goes public in 36 months!
hmmmmmmmmmmm I wonder who is short? possibly those groups downgrading? Cantor, C, ???