US: Supervalu downplays Cerberus takeover talk
Supervalu "nearing" takeover deal
US retailer Supervalu has downplayed reports it is "nearing" a deal that would see Cerberus Capital Management buy some parts of the firm and take a stake in the rest of the company.
According to a Wall Street Journal report citing someone "familiar with the situation", Cerberus and Supervalu could potentially reveal a deal later this week.
Supervalu revealed last summer that it is conducting a strategic review of its business in response to falling sales and profits.
The group's share price spiked in response to the reports, rising from an open of US$2.61 on Friday to close at $2.94.
However, a spokesperson for the company remained coy on the prospect of a deal with Cerberus and told just-food the company is in talks with "several parties".
"The review of strategic alternatives is continuing. We are in talks with several parties and there is no assurance that these will result in any changes in the company's operations," the spokesperson said.
- Rabobank's early view on Brexit impact on food
- How local model protects Nestle - interview
- Brexit sparks uncertainty for UK food - comment
- Quorn Foods confident in prospects - interview
- Kellogg uses Kashi to finally join party - comment
- Nestle names new CEO
- Brexit – Live reaction from food industry
- Brexit – UK farmers warn of food price spike
- Brexit – US confirms commitment to TTIP with EU
- Brexit – How France's food market will be hit
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights