Supervalu stock surges on reports of talks with Cerberus
Supervalu stock closed up nearly 14 percent, to $2.90, after reports that the Eden Prairie, Minn.-based grocery chain is on the verge of selling its Albertsons and Save A Lot chains.
Supervalu Said Moving Toward Sale of Two Chains to Cerberus
Supervalu Inc. (SVU) is moving toward a deal to sell retail chains such as Albertsons and Save-A-Lot to Cerberus Capital Management LP after talks on a full takeover of the grocer stalled, said people with knowledge of the matter.
Supervalu may sell Save-A-Lot, Albertsons by year end
St. Louis Business Journal
Cerberus Capital Management is now considering buying Supervalu Inc.’s largest retail chains — Save-A-Lot, which is based in St. Louis, and Albertsons, Bloomberg reports.
Why SUPERVALU Shares Spiked
Shares of grocer SUPERVALU surged as much as 14% following news that the company is thinking about selling its two largest chains before the end of the year.
Supervalu may sell its two biggest chains by year end, report says
Minneapolis – St.Paul Business Journal
Supervalu Inc. is now considering selling its largest retail chains — Albertsons and Save-A-Lot — to Cerberus Capital Management, according to a Bloomberg report Wednesday.