Albertson’s Inc confirmed Friday (20 January) that it has received an offer for the purchase of the entire Company. The offer was received from the same consortium that had previously submitted an offer for the company in December.
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After reviewing the new proposal Albertsons said its board of directors had authorised the management and its representatives to enter into negotiations. But the retail company emphasised that there can be no assurances that any transaction will occur as a result of these negotiations, or if one does occur, its terms or timing.
The company also stated that it does not expect to disclose further developments with respect to the proposal unless and until its Board of Directors has approved a definitive transaction or has terminated discussions.
Also on Friday, Supervalu Inc confirmed that it was again part of the consortium in negotiations with Albertson’s. The consortium also includes New York-based investment fund Cerberus Capital Management and Hyde Park, NY-based real estate investment company Kimco Realty.
“There is no guarantee that these discussions will result in a definitive agreement,” Supervalu said in a statement.
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