Supervalu yesterday announced that its Save-A-Lot subsidiary "has filed Amendment No. 1 to its Form 10 Registration Statement (Form 10) with the U.S. Securities and Exchange Commission in connection with the possible spin-off of Save-A-Lot into a separate, publicly traded company."
The amendment, according to the company, "includes Save-A-Lot’s recent financial results and details the Company’s current expectations that immediately following a spin-off, Supervalu stockholders would directly own approximately 60 percent of the outstanding shares of common stock of Save-A-Lot and that Supervalu would retain approximately 40 percent of the outstanding shares of common stock of Save-A-Lot."
The amendment, according to the company, "includes Save-A-Lot’s recent financial results and details the Company’s current expectations that immediately following a spin-off, Supervalu stockholders would directly own approximately 60 percent of the outstanding shares of common stock of Save-A-Lot and that Supervalu would retain approximately 40 percent of the outstanding shares of common stock of Save-A-Lot."
- KC's View:
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I know this all takes time, but as I've said here before, I'm sure that the folks at Save-A-Lot are anxious to have this all resolved and off their plate, so they can get 100 percent focused on the serious business of upgrading a chain of stores that needs it if the company is to compete effectively in a tough environment that's only gets harder and more competitive with every passing day.
