More news suggests that Albertsons has reopened negotiations to sell the company. In California, the Press-Enterprise reports that one of the companies looking to buy at least part of Albertsons has contacted Stater Bros. to see if CEO Jack Brown is interested in buying some stores.
Brown confirmed that he had been “contacted in the past few days by "a third party close to one of the bidders,” according to the Press-Enterprise.
MNB reported last week that Albertsons has reignited talks with various companies to sell all or part of the chain. 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.
Brown confirmed that he had been “contacted in the past few days by "a third party close to one of the bidders,” according to the Press-Enterprise.
MNB reported last week that Albertsons has reignited talks with various companies to sell all or part of the chain. 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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None of this should come as a surprise to anyone. The ship is sinking, and it is hard to ignore a life raft that costs a paltry $9.6 billion. Especially since the longer Albertsons stays in business, the more likely it seems that the price will drop.
