The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
A handful of buyout firms, including Cerberus Capital Management, are exploring a deal for all or part of supermarket chain Safeway, according to people familiar with the matter, in what could potentially shape up to be one of the largest leveraged buyouts since the financial crisis.
Safeway, the second-largest U.S. mainstream grocery store operator with a market value of over $8 billion, is not running an auction currently, but is aware of the buyout interest and reviewing options with adviser Goldman Sachs, the people said on Tuesday.
They asked not to be named because the matter is confidential. Safeway, Cerberus and Goldman declined to comment.
(Read more: Sobeys buys Safeway Canada in 'game-changing' deal)
The interest from private equity firms comes at a critical time for Pleasanton, California-based Safeway.
Activist investor Jana Partners reported a 6.2 percent stake in Safeway in September, saying the company's shares are undervalued, and it held talks with Safeway management about reviewing strategic alternatives.
In response to Jana's disclosure, Safeway had adopted a so-called poison pill to prevent an unwanted takeover of the company. Its board also had authorized $2 billion in stock repurchases and announced plans to exit the Chicago market.
Deliberations over a potential buyout are at an early stage, and it remains unclear if a bid will materialize for Safeway.
But private equity's interest in Safeway underscores how buoyant debt markets have encouraged more firms to consider larger deals approaching $10 billion, which had largely remained elusive since the financial crisis.
(Read more: Traditional grocers poised to join e-commerce boom)
In the most striking example this year, Blackstone Group, KKR & Co, Carlyle Group and Singapore's state investor Temasek Holdings joined forces to make an unsuccessful $11 billion bid for Life Technologies Corp.
Cerberus is no stranger to the supermarket sector. In January, a Cerberus-led investor group acquired a group of grocery chains from Supervalu, including Albertsons and Jewel-Osco, for $3.3 billion.
Prior to that transaction, Cerberus already owned 650 Albertsons locations as a result of 2006 deal under which the chain was acquired and its stores broken up between the private equity investor, Supervalu and CVS Caremark.
Safeway was in the hands of private equity before. KKR took Safeway private in 1986, and then sold its stake in 1999 to make more than $7 billion on its original investment.
Grocery deals on the rise
Safeway and other mainstream U.S. grocery retailers have faced mounting pressure from competitors such as Whole Foods Market at the high end, and from dollar stores and mass retailers such as Dollar General and Wal-Mart at the lower end.
(Read more: Big grocery savings without extreme couponing)
This pressure has driven deals in the grocery sector.
In July, Kroger acquired regional grocer Harris Teeter Supermarkets for $2.5 billion, while grocery distributor Spartan Stores acquired Nash Finch to become the largest food supplier to U.S. military stores.
In May, Belgium-based food retailer Delhaize sold three U.S. supermarket chains to rival Bi-Lo Holdings for $265 million.
Even before Jana's activist campaign, Safeway was looking to streamline by selling off non-core businesses. The company spun off its gift card provider, Blackhawk Network Holdings, into a separate publicly traded company, selling a 19 percent stake.
(Read more: Your next meal may come compliments of Amazon)
It also sold off its Canadian operations to Empire Co, the operator of Canadian retailer Sobeys, for $5.8 billion in cash in June.