Market News
30Jan2006 |
Supervalu to Buy Albertson'sAlbertson's Inc. has agreed to be purchased by an investor group led by Supervalu Inc., a deal that will divide the grocery chain among retailers and financial buyers. The purchasers will pay US$9.7 billion in cash and stock. They will also assume US$7.7 billion in Albertson's debt. With the announcement, the closely watched and complicated auction for the struggling chain comes to a close. The deal features the takeover of 1,124 stores by Supervalu, making the Minneapolis-based company the second-largest supermarket company in the United States, after Kroger. Source: Canadian Grocer E-Newsletter, January 30th. 2006. 
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