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Safeway rises on speculation of buyout interest
New York -- Shares of Safeway Inc. shares rose as much as 9% on Wednesday on rumors of increased buyout interest for its Canada operations by Canadian grocer Metro Inc. and Loblaw Companies Ltd.
On Tuesday, Metro announced it was selling off nearly half its stake in Couche-Tard Inc. for $482 million.
In December, Loblaw announced plans to spin off the vast majority of its property assets into a real estate investment trust. -
No Reservations
A new research report by The NPD Group unveiled information I already knew: the restaurant space is growing by leaps and bounds. In fact, the total restaurant count in the U.S. increased by 4,442 units over last year, according to NPD’s recent restaurant census Fall 2012 ReCount.
That’s no small potatoes.
Some 616,008 eateries now dot the country, representing a .7% increase over last year, with the biggest growth coming from the quick-serve segment (up 1% over last year, or an added 4,037 units).