The New York Post reports that Albertsons plans to reignite talks with various companies to sell all or part of the chain. The Post suggests that some members of the company’s board may have been “livid” about management’s inability to close a deal.
Late last month, Albertsons broke off negotiations with a consortium that included Supervalu, CVS, investment fund Cerberus Capital Management, and real estate firm Kimco Realty. CVS was then reported to be negotiating to buy Albertsons’ Sav-on and Osco drug chains, but apparently bailed out of those discussions as well.
Reports were that the scuttled deal would have been for $9.6 billion.
Late last month, Albertsons broke off negotiations with a consortium that included Supervalu, CVS, investment fund Cerberus Capital Management, and real estate firm Kimco Realty. CVS was then reported to be negotiating to buy Albertsons’ Sav-on and Osco drug chains, but apparently bailed out of those discussions as well.
Reports were that the scuttled deal would have been for $9.6 billion.
- KC's View:
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From all reports, Albertsons management has little credibility with investors, employees and customers.
There don’t seem to be a lot of alternatives to selling the company.
It is a question of who and when. Not if.
