SUPERVALU (SVU) Reports In-Line Q2 EPS; Retail Comps Fell 5.9%
- S&P 500 ends higher as markets weigh rising yields, upbeat corporate results
- Meta Platforms reports softer Q2 revenue guidance on plans to boost spending on AI
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- Equities mixed as investors eye earnings; yen on intervention watch
- ServiceNow (NOW) stock falls as refreshed subscription outlook trails estimates
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Hasbro (HAS) brand strength sees earnings top expectations
- IBM (IBM) announces mixed Q1 results, HashiCorp acquisition; shares down
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Crude Inventory Declined 6.4 Million Barrels Last Week
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
Onex to Acquire Save-A-Lot from SUPERVALU (SVU) for $1.365B
October 17, 2016 6:47 AM EDTOnex (OCX: T) has agreed to acquire the Save-A-Lot business from SUPERVALU INC. (NYSE: SVU) for $1.365 billion. Save-A-Lot is one of the largest hard-discount grocery retailers for value-seeking shoppers in the United States. The transaction is anticipated to close by January 31, 2017 subject to customary conditions and regulatory approvals.
Headquartered in St. Louis, Save-A-Lot has a network of approximately 1,370 corporate-owned and licensed stores across 37 states, the... More
SUPERVALU (SVU) to Sell Save-A-Lot Unit in ~$1.37B Deal
October 17, 2016 6:47 AM EDTSUPERVALU INC. (NYSE: SVU) announced that it has entered into a definitive agreement whereby an affiliate of Onex Corporation will acquire SUPERVALUs Save-A-Lot business for $1.365 billion in cash, subject to customary closing adjustments. In connection with the sale, SUPERVALU and Save-A-Lot will enter into a five-year professional services agreement. The sale of Save-A-Lot is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.
Todays announcement is the result of a thorough process to maximize the value of the Save-A-Lot... More