I'm not so sure Cerberus and others have lost interest in SWY. SWY hired GS to help and a deal is always in GS best interests. Is it more likely SWY needed to dress up the operation to better appeal to Cerberus' stable of stores? Perhaps Canadian ops were a problem to regulators and cold cash would make the deal easier? Interest costs would be higher w/o the Canadian sale? Maybe that's why we haven't seen share repurchases yet too. Cerberus and Goldman may have needed the money to make the deal fly. Getting things done always seems to take forever but all this talk is only a few months old. It usually takes me a few months to buy a car;)
Again, just thinking out loud.
I don't know why a couple posters on here think the buyback isn't ongoing. It was greatly increased: ""Oct 18 (Reuters) - Safeway Inc said on Friday its board authorized an additional $2 billion in stock repurchases, adding to the roughly $800 million the grocery store operator had left under an existing authorization at the end of the third quarter.""
This is from late Oct. and as far as I can see nothing has chaged:
Safeway could fetch $45 in a take-out, says Credit Suisse
Credit Suisse believes a potential buy-out of Safeway by Cerberus makes compelling sense and could be as high as $45 per share. The analyst said benefits of a Safeway/Cerberus deal include: a combined entity that would be the 1 or 2 player in 80% of 25 of its top markets, significant cost synergies, minimal FTC risk, a more rational competitive marketplace, and a more attractive public company in the future. Shares are Outperform rated with a $45 price target, up from $40.