Safeway Shares Jump on Rumor of Sears Buyout
PLEASANTON, Calif. -- Shares of Safeway Inc. got a boost yesterday due to speculation that Sears Holdings Corp., which also owns Kmart, was interested in purchasing the supermarket chain.
According to published reports, analysts said that activity on Safeway's options and stocks indicate that "something was up."
In rampant trading yesterday, the chain's stock closed at $35.98 per share, up 93 cents, or 2.65 percent.
Calls to Safeway seeking comment were not returned by press time.
According to published reports, analysts said that activity on Safeway's options and stocks indicate that "something was up."
In rampant trading yesterday, the chain's stock closed at $35.98 per share, up 93 cents, or 2.65 percent.
Calls to Safeway seeking comment were not returned by press time.