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UPDATE: Empire Co's Sobeys Unit to Buy Canada Safeway for C$5.8B

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Empire Company Limited ("Empire" or the "Company") and its wholly-owned subsidiary, Sobeys Inc. ("Sobeys"), have announced that Sobeys has reached a definitive  agreement with Safeway Inc. (NYSE: SWY) to acquire substantially all of the assets of Canada Safeway Limited ("Canada Safeway") for a cash purchase price of Cdn. $5.8 billion, subject to a working capital adjustment, plus the assumption of certain liabilities.

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