Sobeys-Safeway deal approved by Canada's Competition Bureau

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Sobeys-Safeway deal approved by Canada's Competition Bureau

<p><a href="http://news.yahoo.com/canadas-competition-bureau-approves-sobeys-safeway-deal-204639964--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/qFAD3n9c5IQcZp1pCfBUmw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-10-22T222001Z_1_CBRE99L1Q1I00_RTROPTP_2_CBUSINESS-US-SAFEWAYCANADA-SOBEYS.JPG" width="130" height="86" alt="Shopping carts are lined up outside the local Safeway grocery store in Arvada" align="left" title="Shopping carts are lined up outside the local Safeway grocery store in Arvada" border="0" /></a>By Euan Rocha TORONTO (Reuters) - Empire Co Ltd , the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada's competition watchdog approved its acquisition of substantially all of Safeway Inc's assets in Canada. The deal cements Empire's position as Canada's No. 2 grocer behind Loblaw Companies Ltd at a time when competition from U.S. retailers Wal-Mart Stores and Target is heating up. Empire announced in June that it was acquiring Safeway Inc's assets in Canada for $5.7 billion, a move that will nearly double its reach in the country's western provinces. ...</p><br clear="all"/>

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