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.
- On the move: What's in store from Tesco's new CEO?
- On the money: Steady as she goes at Cloetta
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- On the money: Can Premier build H2 sales momentum?
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- Premier launches Oxo pots range in UK
- Universal Robina to buy biscuit firm Griffin's
- Genius secures listings in French supermarkets