Key Developments: Supervalu Inc (SVU.N)

SVU.N on New York Stock Exchange

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

SUPERVALU Inc reaffirms FY 2015 EBITDA guidance - Conference Call
Thursday, 24 Jul 2014 10:00am EDT 

SUPERVALU Inc:Continues to believe FY 2015 adjusted EBITDA to be lower than FY 2014 pro forma adjusted EBITDA of $783 million.FY 2015 EBITDA of $772 million - Thomson Reuters I/B/E/S.  Full Article

SUPERVALU Inc agrees to participate in acquisitions of Rainbow Stores
Wednesday, 7 May 2014 09:01am EDT 

SUPERVALU Inc:Entered into definitive agreements to acquire certain Rainbow Foods grocery stores.In total they agreed to acquire 18 Rainbow grocery stores, including 13 Rainbow pharmacies and three Rainbow liquor stores in Minnesota.  Full Article

Roundy's agrees to sell 18 rainbow stores to a group of local grocery retailers, including SUPERVALU INC
Wednesday, 7 May 2014 09:00am EDT 

Roundy's Inc:To sell 18 Rainbow stores in Minneapolis/St. Paul market to a group of local grocery retailers, including SUPERVALU INC.Aggregate sale price is about $65 mln in cash plus proceeds from inventory that will be sold at the closing of the transaction.Transaction is expected to close during the third quarter.Moelis & Company is acting as Roundy's exclusive financial advisor in connection with the transaction.  Full Article

SUPERVALU INC announces changes in board
Monday, 13 Jan 2014 04:15pm EST 

SUPERVALU INC:Says Gerald Storch has been elected as the company's new Chairman of the Board.Says Robert Miller resigned as the Chairman of the company to focus on other demands.  Full Article

SUPERVALU INC Appoints Bruce Besanko As Executive Vice President And Chief Financial Officer-DJ
Wednesday, 24 Jul 2013 08:00am EDT 

Dow Jones reported that SUPERVALU INC said it has named Bruce Besanko as the Company's Executive Vice President and Chief Financial Officer (CFO), effective August 7, 2013.  Full Article

SUPERVALU INC Completes Re-pricing And Amendment Of $1.5 Billion Senior Secured Term Loan Facility
Thursday, 16 May 2013 04:20pm EDT 

SUPERVALU INC announced that it has successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5.0% to 4.0% and reduces the LIBOR floor from 1.25% to 1.00% for LIBOR based loans. The amendment also expands the ability to increase the term loan, subject to a secured leverage test, by up to $500 million (previously $250 million). The maturity date of the term loan remains March 2019. Since the term loan was refinanced within the first year of its inception, the Company paid the existing term loan lenders a 1% refinancing premium per the terms of the loan agreement. The amendment also includes certain other non-material changes. Credit Suisse and Goldman Sachs Bank USA acted as joint lead book-runners and joint lead arrangers while Morgan Stanley, Bank of America Merrill Lynch and Barclays acted as co-managers on the amendment.  Full Article

Acacia Research Corp's Express Card Systems LLC Enters Into License Agreement With Supervalu Inc
Monday, 1 Apr 2013 06:00am EDT 

Acacia Research Corp announced that Express Card Systems LLC subsidiary has entered into a settlement and license agreement with Supervalu Inc. The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.  Full Article

SUPERVALU INC Announces Management Change-Form 8-K
Tuesday, 26 Mar 2013 05:28pm EDT 

SUPERVALU INC reported in its Form 8-K that on March 20, 2013, pursuant to the Tender Offer Agreement, each of Ronald Daly, Susan Engel, Edwin Skip Gage, Steven Rogers and Kathi Seifert resigned from SUPERVALU’s Board of Directors, effective as of the consummation of the Offer. Also in accordance with the Tender Offer Agreement, on March 21, 2013, Symphony designated two directors who were appointed to SUPERVALU’s Board of Directors—Robert G. Miller as Non-Executive Chairman of SUPERVALU’s Board of Directors and Lenard Tessler.  Full Article

SUPERVALU INC Announces Company Wide Workforce Reduction
Tuesday, 26 Mar 2013 08:30am EDT 

SUPERVALU INC announced plans to reduce national workforce by an estimated 1,100 positions. The final working dates for impacted employees vary, based on the needs of the business and the areas they support. The reductions include both current positions and open jobs that will not be filled. The announcement follows SUPERVALU's recent sale of ALBERTSONS, JEWEL, ACME, and SHAWS/Star Markets, as well as the SAV-ON and OSCO in-store pharmacies, to AB Acquisition LLC. That transaction was completed on March 21, 2013. As a result, the remaining organization will require significantly fewer corporate and store support roles and functions making it important that the Company restructure operations and expenses accordingly. The announcement affects nearly all company offices and crosses departments within the organization. In general, store level employees and SAVE-A-LOT, the Company's hard-discount retail chain, are not affected by this announcement. Employees whose positions are eliminated will be offered severance and outplacement services based on SUPERVALU's eligibility guidelines.  Full Article

SUPERVALU INC Installs Sam Duncan As President And Chief Executive Officer
Monday, 4 Feb 2013 08:34am EST 

SUPERVALU INC announced that Sam K. Duncan will become president and Chief Executive Officer, effective immediately. In this role he succeeds Wayne Sales, who has served as the Company`s president and chief executive officer since July 2012.  Full Article

RPT-Market Chatter- Corporate finance press digest

Aug 15 - The following corporate finance-related stories were reported by media:

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