Nov 29 Supervalu shares slumped more
than 18 percent on Thursday after a report that Cerberus Capital
Management was having difficulty obtaining financing to buy out
the troubled grocery chain.
Bloomberg reported that potential lenders were concerned
about Supervalu's ability to manage its debt load.
Reuters reported last month that buyout firm Cerberus was
preparing a takeover bid for Supervalu, the third-largest U.S.
If Supervalu does not sell to Cerberus, it may have to
restructure on its own or sell off individual assets, which
could have big tax consequences, Bloomberg said.
Supervalu declined to comment. Cerberus officials could not
be reached immediately for comment.
Shares of Supervalu closed down 18.6 percent at $2.28.
Supervalu announced in July it was working with Goldman
Sachs Group Inc and Greenhill & Co Inc to explore