PRNewswire- AB Acquisition LLC (Albertsons) and Safeway Inc. today announced that they have received clearance from the U.S. Federal Trade Commission (FTC) for the companies’ proposed merger which was announced on March 6, 2014.
The FTC’s clearance follows Albertsons’ and Safeway’s agreement to a proposed consent order, which includes a commitment to divest 168 stores.
As previously announced,Albertsons and Safeway entered into agreements to sell such stores to four FTC-approved buyers. Albertsons and Safeway also agreed to settlements with the attorneys general ofCalifornia, Nevada and Washington.
Albertsons and Safeway expect to complete the merger within the next five business days.