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Cerberus offers $US9 bln for Safeway

Young and rich Prepare to be astounded and a little bit jealous of these kids who are uber rich and chronicle it all on instagram.


Private-equity firm Cerberus Capital Management has offered to acquire US supermarket chain Safeway in a deal that would be worth more than $US9 billion ($A10.05 billion), the Wall Street Journal has reported.


Cerberus has proposed paying about $US40 per share, but a potential deal has been complicated by a possible bid for Safeway by rival supermarket chain Kroger, the Journal said on Wednesday, citing unnamed sources.


The acquisition would follow Cerberus's purchase of the Albertsons supermarket chain in 2013.


Cerberus declined comment.


Safeway in February announced that it was in discussions over a possible sale of the company, but that no deal was certain.


Safeway shares gained 2.2 per cent to $US39.48 in regular trade Wednesday.


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