THE PDC CVR was due to expire on January 30, 2017, but has been extended in order to finalize outstanding matters related to the disposition of PDC. A distribution in the amount of $0.017 per PDC Contingent Value Right was announced on May 8, 2017 (see press release below). The shareholder representative is seeking to collect additional net proceeds of approximately $0.0003; however, the timing and amount, if any, of any future distribution is uncertain.
Albertsons/Safeway will provide more information on the PDC CVR when it has more clarity on the amount and timing of the final distribution, if any, with respect to the PDC CVR.
Safeway distributed to Safeway shareholders 37.8 million shares of Blackhawk Network Holdings Inc. (Nasdaq: HAWKB), its gift and prepaid card subsidiary, on April 14, 2014. The stock is trading as 'HAWK' since May 2015.
The distribution is expected to be taxable to Safeway shareholders. The fair market value is the volume weighted average price (VWAP) on the first day of trading, April 15, 2014, which was $24.4565.
Short-Form Information Statement for HAWK Distribution