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.
- Deal or no deal: Frozen sale makes sense for Kerry
- On the money: How Greencore is outperforming
- Comment: Mondelez digital strategy suffers blow
- JBS sees big opportunity from Primo Smallgoods
- Regional start-ups aim to ride China's online boom
- Kerry puts frozen food unit on block - reports
- Coca-Cola eyes long-term rewards with dairy push
- Post issues warning over US cereal sector sales
- UPDATE: Greencore eyes US$1bn US business
- Abraaj outbids Kellogg with fresh Bisco Misr offer