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Albertson's Sale Talks Reportedly Resume
January 13, 2006 · Wire Services
Albertson's Inc. plans to resume talks with potential buyers, the New York Post reported on Friday.
A $15.7 billion deal to take the grocery store chain private collapsed last month.
The new talks are targeted at completing a similar $26-a-share deal within the next few weeks, the Post quoted sources as saying.
The deal rejected in December involved Minneapolis food retailer SuperValu Inc. acquiring 1,100 Albertson's stores, and drugstore chain CVS Corp. taking Albertson's pharmacy business.
Other stores would go to investment firms Cerberus Capital Management and Kimco Realty Corp.
There are dozens of Albertson's stores and pharmacies in the Silicon Valley.
The Post quoted sources who said that despite the renewed talks, there is no guarantee a deal will be worked out.
Albertson's stock opened on Friday at $23.02, up about 2 percent.