Updating Albertsons Inc., Freescale Semiconductor Inc., and Apache Corp.

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ALBERTSONS INC. $25 (New York symbol ABS) has accepted a takeover offer from a private group led by Supervalu Inc. Albertson’s stockholders will get $20.35 in cash, plus 0.182 of a Supervalu share. Based on Supervalu’s current stock price, Albertsons’ stock is trading slightly below the offer’s value of roughly $26.30 a share. We’ll have more to say in a future issue. For now, the stock is still a hold. FREESCALE SEMICONDUCTOR INC. $26 (New York symbol FSL) earned $0.45 a share in the fourth quarter of 2005, up sharply from $0.01 a year earlier, mainly due to cost controls. Revenue grew 3.5% on stronger demand for chips from carmakers and Internet networking equipment manufacturers. Buy. APACHE CORP. $71 (New York symbol APA) has agreed to pay $675 million for several oil and gas properties in Argentina. The price is equal to about 40% of the $1.7 billion or $5.04 a share it earned in 2004. Most of these assets are not…