US: Supervalu "talks with PE firm Cerberus continue"
Takeover talks between private-equity firm Cerberus Capital Management and US retailer Supervalu Inc are reportedly continuing despite rumours discussions had stalled.
Negotiations between Supervalu and Cerberus were held this weekend, The Wall Street Journal reported this week.
The WSJ said Cerberus was willing to consider "multiple options" for Supervalu, including buying the whole business and a deal that only centred on the retailer's Albertsons chain.
Shares in Supervalu were up 10.92% at US$2.64 at 14:57 ET.
On Friday, Bloomberg had reported talks had stalled as Cerberus had had problems securing funding. The report prompted Supervalu to issue a statement to say it was still having "active" talks with "several parties".
Supervalu did not return a request for comment.
Private-equity firm Cerberus Capital Management, which earlier this year bought five food retail chains from Supervalu Inc, is said to be looking at more targets - including regional grocer Harris Tee...
The acquisition of 1,100 Albertsons outlets in 2006 greatly improved Supervalu Inc’s market position, propelling the wholesaler and grocery retailer to third place in supermarkets. However, the chain ...
Supervalu Inc has said CFO Sherry Smith will leave the US retailer next month....
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