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Safeway reports 1st-quarter loss

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Safeway reports 1st-quarter loss

PLEASANTON, Calif. (AP) — Safeway on Wednesday posted a net loss for the first quarter because of higher costs and acquisition expenses.

The grocery-store chain is being acquired by an investment group in a deal worth about $7.64 billion. The deal, which combines Safeway and Albertsons, is expected to close in the fourth quarter.

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