date:Jun 14, 2013
ion for the assets.
Its shares jumped to $29.97 in trading after the closing bell in the United States on Wednesday.
Joe Feldman, analyst at Telsey Advisory Group in New York, said while Safeway trades at a multiple of about five times enterprise value to EBITDA (earnings before interest, taxes, depreciation, and amortization), it was raking in more than double that multiple for the Canadian assets.
Safeway's Canadian assets historically accounted for one-third of the company's operating prof