Cerberus May Acquire Two Supervalu (SVU) Units; Full Acquisition Still on Table
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Supervalu (NYSE: SVU) shares are ticking higher Wednesday amid more news tied to a possible deal with Cerberus.
According to reports out today, Supervalu will divest Albertsons and Save-A-Lot to Cerberus as a complete merger of the company may not pan out. Save-A-Lot was said to garner interest from other PE firms as well.
It's not clear what Supervalu would get in the deal, only that it would receive cash and move to pay down some $6 billion in debt.
Save-A-Lot is Supervalu's largest chain, with 1,280 stores across the U.S. Albertson's boasts 450 stores, mainly in the Northwest, Nevada, and Southern California regions.
Cerberus may still make a deal for all of Supervalu, but could close on the acquisition of the two units before the end of 2012.
Supervalu is up 9 percent on the session.
According to reports out today, Supervalu will divest Albertsons and Save-A-Lot to Cerberus as a complete merger of the company may not pan out. Save-A-Lot was said to garner interest from other PE firms as well.
It's not clear what Supervalu would get in the deal, only that it would receive cash and move to pay down some $6 billion in debt.
Save-A-Lot is Supervalu's largest chain, with 1,280 stores across the U.S. Albertson's boasts 450 stores, mainly in the Northwest, Nevada, and Southern California regions.
Cerberus may still make a deal for all of Supervalu, but could close on the acquisition of the two units before the end of 2012.
Supervalu is up 9 percent on the session.
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