Loblaws eyeing Safeway Canada

By News Staff

Posted Jan 4, 2013 7:31 am.

This article is more than 5 years old.

Business analysts are speculating Loblaws may be looking to buy Safeway Canada.

Loblaw is planning on putting more than $7-billion of property into real estate investment trust, to be sold by mid 2013.

Analyst Kathleen Wong says the move will free up a lot of cash for an acquisition

Wong tells The Calgary Herald the purchase of Safeway would be a good move as Loblaw faces more competition from Walmart and Target.

She adds the price may be high in purchasing the company.

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