shareholders have approved a $9.2 billion for the purchase of Safeway, Inc.
which owns Vons and is awaiting approval by the Federal Trade Commission.
Including the Big Bear Lake Vons store, Safeway owns 279 supermarkets in
Announces Results of 2014 Stockholder Vote
____ PLEASANTON, CA -- (Marketwired) July 25, 2014, Safeway Inc. (NYSE: SWY)
announced the preliminary results of its stockholder vote at the company's
2014 Annual Meeting of Stockholders held today. Stockholders approved and
adopted the proposal to approve the previously announced agreement and plan
of merger dated as of March 6, 2014, as amended on April 7, 2014 and June 13,
2014, under which AB Acquisition LLC, an affiliate of Albertsons, will
acquire Safeway (the "Merger") as described in the proxy statement
dated June 19, 2014 with 70% of the outstanding shares and 96% of the shares
voted voting FOR the Merger. The two other Merger-related proposals were also
advisory proposal to approve the merger-related compensation for the named
executive officers (96% FOR)
of the Annual Meeting, if necessary or appropriate, to solicit additional
proxies if there are insufficient votes at the time of the Annual Meeting to
approve and adopt the Merger Agreement (90% FOR)
Stockholders also approved the Advisory Vote on Executive
Compensation ("Say on Pay") with 99% voting FOR. Stockholders elected each of the nine
directors by a vote percentage of at least 87% and approved the appointment
of Deloitte & Touche LLP to serve as the company's independent registered
accounting firm for the 2014 fiscal year.
Stockholders voted AGAINST two stockholder proposals as
recommended by the Board of Directors with the following approximate vote
Labeling products containing genetically engineered
Extended producer responsibility
All figures are expressed in terms of percentages of the
shares voted, except for the Merger proposal, which is expressed as a
percentage of Safeway's outstanding common stock. Final vote results will be
reported in a Form 8-K.
Safeway Inc. is a Fortune 100 company and one of the largest
food and drug retailers in North America based on sales. The company operates
1,331 stores in the United States and had annual sales of $36.1 billion in
Source: Safeway Inc.