Analysts Watching Sobeys’ ‘Magical’ Safeway Deal

Analysts Watching Sobeys’ ‘Magical’ Safeway Deal

“We believe Safeway could have gone for more, which means that Empire pulled off a magical deal.” — Perry Caicco, analyst, CIBC World Markets

STELLARTON, Nova Scotia — Analysts in Canada last week were still waiting for another shoe to drop in the wake of Empire Cos.’ sweeping announcement that it would acquire Safeway Canada.

The $5.8 billion deal, announced earlier this month and expected to close this fall, could signal the beginning

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