Cerberus Capital Management in negotiations for Supervalu business
MINNEAPOLIS — Supervalu on Friday confirmed that a previously announced review of strategic alternatives is proceeding, sparking a slight run on the company's stock. As of early Monday afternoon, Supervalu was trading at $2.53 per share, up 6.3%.
"The company continues to be in active discussion with several parties," Supervalu stated.
The Wall Street Journal on Sunday reported that Cerberus Capital Management and Supervalu had been negotiating a potential acquisition deal through the weekend.
However, Bloomberg News had reported earlier those talks may have stalled because Cerberus is having difficulty raising the capital for a leveraged buyout.