SUPERVALU (SVU) Pulls Back Following Chatter; Cerberus to Sell Large Stake in Aozora

January 7, 2013 3:59 PM EST
SUPERVALU (NYSE: SVU) shares are pulling back Monday after ramping 13.5 percent last Friday on more M&A speculation.

Chatter heated up around SUPERVALU and Cerberus nearing a deal. Cerberus has been eying a potential acquisition of SUPERVALU assets like Albertson's and Save-A-Lot, though nothing much as former ally materialized over the last few weeks.

This morning, Cerberus will be freeing up more assets as it announced plans to sell the lion's share of its 58 percent stake in Japan's Aozora Bank. Cerberus will retain 7.7 percent of Aozora and receive $1.7 billion for the other portion.

Not that Cerberus' Aozora sale will influence its decision over SUPERVALU. Since announcing plans to explore alternatives last July, SUPERVALU's market cap has been just about halved to $600 million...a bite-sized nugget for the likes of Cerberus.

Shares are down 2.4 percent on the session, netting a gain over the last two sessions.

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