Lets keep the momentum going and take a look at what is going on in the world of spinoffs: Blackhawk Networks (HAWK), a 2014 spinoff from Safeway (which has since been acquired), is being acquired by private equity firms Silver Lake and P2 Capital Partners for $3.5b or $45.25 per share. P2 Capital is already a shareholder with… Read More »
The dance is finally over and Safeway (SWY) has found its suitor. After a lot of speculation, the grocer agreed to be acquired by Cerberus owned Albertson’s for ~$9b. While that would normally put the company in the hands of merger arbitrage players, the company still has some unfinished spinoff business. Back in 2012, the company announced plans… Read More »
After denying spinoff plans for its gift-card subsidiary Blackhawk at its investor day earlier this year, supermarket giant Safeway (SWY) unveiled plans last week for…a spinoff of its Blackhawk subsidiary. Further proof that you can always take a CEO or politician’s word to the bank. For those who are unfamiliar with the business, Blackhawk Network Holdings is a… Read More »