Nov 29 Supervalu said it remains in
talks with several parties, after its shares slumped more than
18 percent on a Thursday report that Cerberus Capital Management
was having difficulty obtaining financing to buy out the
troubled grocery chain.
Supervalu, in a statement, said it is in "active discussion
with several parties," but it remains uncertain whether the
talks will result in any transaction, or change in overall
structure or business model.
Bloomberg reported earlier on Thursday that potential
lenders were concerned about Supervalu's ability to manage its
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.
Cerberus officials could not be reached immediately for
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