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Stock Market & Financial Investment News

News Breaks
January 10, 2013
09:00 EDTSVU, KIMSuperValu to sell five retail grocery banners to Cerberus-led investor group
SUPERVALU announced a definitive agreement under which it will sell its Albertsons, Acme, Jewel-Osco, Shawís and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management L.P.-led investor consortium which also includes Kimco Realty Corporation (KIM), Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group, in a transaction valued at $3.3B. The sale will consist of the acquisition by AB Acquisition of the stock of New Albertsons, a wholly-owned subsidiary of SUPERVALU, which owns the Banners, for $100M in cash. NAI will be sold to AB Acquisition subject to approximately $3.2B in debt, which will be retained by NAI. As part of the transaction, which includes 877 stores across the Banners, AB Acquisition-owned Albertsonís LLC will reunite its Albertsonís stores with the acquired NAI Albertsons stores. In addition to the Sale, within ten business days of today, a newly-formed acquisition entity owned by a Cerberus-led investor consortium will conduct a tender offer for up to 30% of SUPERVALUís outstanding common stock at a purchase price of $4.00 per share in cash. The Tender Offer represents a 50% premium to SUPERVALUís thirty-day average closing share price as of January 9, 2013, and provides SUPERVALUís shareholders with the opportunity to maintain an equity stake in SUPERVALU moving forward.
News For SVU;KIM From The Last 14 Days
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February 27, 2015
18:04 EDTKIMKimco Realty files automatic mixed securities shelf
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17:47 EDTKIMKimco Realty announces $500M 'at the market' equity offering program
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February 25, 2015
16:13 EDTKIMKimco Realty CEO David Henry retiring, succeeded by COO Conor Flynn in 2016
Kimco Realty CEO David B. Henry will retire on January 1, 2016. Conor C. Flynn, President and COO, has been appointed to succeed Mr. Henry as CEO on that date. Conor Flynn was appointed President of the company in August 2014 after previously being named Kimcoís COO and, more recently, Chief Investment Officer. Mr. Flynn will continue in these roles until January 1, 2016.

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