Mike Siemienas News
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Tyson Foods Inc. and Cargill Inc., two of the largest U.S. meat processors, don’t expect potential furloughs of meat inspectors due to federal budget cuts to occur before at least April.
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Supervalu Inc., the third-largest U.S. grocery chain, set the rate it will pay on $2.4 billion of loans to support the sale of five supermarket chains to a Cerberus Capital Management LP-led investor group.
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Cerberus Capital Management LP’s pursuit of grocery chain Supervalu Inc. has stalled because the private-equity firm has had trouble obtaining the funds for a leveraged buyout, said people familiar with the matter.
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Retailers from Walgreen Co. to Macy’s Inc. kept stores shuttered in hard-hit New York and New Jersey while reopening some other East Coast locations as they worked to assess the damage to their shops and sales.
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Hurricane Sandy is threatening to reduce sales of clothing and holiday gifts during one of the most important shopping months of the year, while benefiting supermarkets and home-improvement stores such as Home Depot Inc.
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An investor group led by Cerberus Capital Management LP is nearing a deal to acquire some of grocery chain Supervalu Inc.’s assets and become a shareholder in the remaining public company, said three people familiar with the matter.
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Supervalu Inc. is moving toward a deal to sell retail chains such as Albertsons and Save-A-Lot to Cerberus Capital Management LP after talks on a full takeover of the grocer stalled, said people with knowledge of the matter.
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Supervalu Inc., the supermarket chain that said earlier this month it will review strategic alternatives, named board member Wayne C. Sales chief executive officer to replace Craig Herkert
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Supervalu Inc., the owner of Save-A- Lot and Albertsons grocery stores, dropped the most in more than 14 months after third-quarter profit trailed analysts’ estimates as the state of the economy weighed on shoppers.
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Supervalu Inc.’s advisers are asking potential buyers to bid for the entire business even as several suitors have inquired about individual parts of the grocery company, according to people with knowledge of the matter.
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