Workers at three Southern California supermarkets were expected to ratify a tentative four-year agreement that would keep them off the picket line and give them wage and benefit increases. Details of the deal between the workers and the grocers — Supervalu Inc.’s (SVU) Albertsons, Kroger Co.’s (KR) Ralphs and Safeway Inc.’s (SWY) Vons and Pavilions — were not immediately released.
Private equity firm Kohlberg Kravis & Roberts Co. is studying a bid to buy Macy’s Inc. (M) for about $24 billion, or $52 a share. According to Women’s Wear Daily, the two parties could agree in principle within a few days. WWD also reported it was believed that KKR would keep current Macy’s management, including chairman and CEO Terry Lundgren.