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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.
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August 25, 2014
06:19 EDTSVUU.S. DHS warns of 'Backoff' malware, WSJ reports
The Department of Homeland Security is urging all companies to check for a "Backoff" malware infection, which targets cash registers, and said over 1,000 businesses in the U.S. have been affected by the cyberattack, the Wall Street Journal reports. The DHS said Friday that the malware has likely infected many victims who "aren't aware" that they have been compromised. Reference Link
August 15, 2014
05:18 EDTSVUSuperValu says computer network experienced criminal intrusion
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