Safeway's shares rose as much as 9 percent on Wednesday on expectations that it may see increased buyout interest for its Canada operations from local grocery chains. Shares of Pleasanton-based Safeway, the second-largest U.S. supermarket chain, were trading at $19.78 on Wednesday afternoon, after touching a high of $20.57 earlier in the session on the New York Stock Exchange. BMO Capital Markets analysts noted that the sale of Safeway Canada has been widely discussed for years, but recent actions by Canadian grocer Metro Inc and its larger rival Loblaw Companies Ltd have fueled speculation that they are monetizing assets to boost finances in preparation for a bidding war. The brokerage cited Tuesday's announcement that grocer Metro was selling off nearly half its stake in Couche-Tard Inc, soon after Loblaw announced plans to spin off most of its property assets into a real estate investment trust.