As reported in the Wall Street Journal, several investments funds who had exercised appraisal rights in connection with Albertsons’ acquisition of Safeway Inc. have now settled their appraisal case for a 26% premium over the merger price within just half a year after the deal closed. The settlement, at $44 per share, netted $127 million more to the settling funds than the merger price of $34.92 would have given them. While the deal resolves the claims of most dissenting stockholders, two other funds holding 3.7 million shares remain in the appraisal case, and the fiduciary duty class actions against Safeway remain pending as well.
