Safeway Inc. the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion.
The offer price of $40 per share represents a premium of 1.3 percent to Safeway's Thursday closing stock price of $39.47 on the New York Stock Exchange. - Full Article
The economy added 175,000 net new jobs last month, a surprisingly robust figure given the bad winter weather, the Labor Department said Friday.
Despite the increase -- the largest in three months -- the unemployment rate ticked up 0.1 percentage points to 6.7% after hitting a more than five-year low in January. - Full Article