UPDATE 2-Supervalu explores possible sale following shareholder pressure -source [Reuters (UK)]
SUPERVALU (SVU)
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Source: Reuters
Supervalu explores possible sale following shareholder pressure: source | Reuters 2 Min Read (Reuters) - U.S. supermarket operator Supervalu Inc ( SVU.N ) is exploring a potential sale following pressure from activist shareholders, including Blackwells Capital LLC, a person familiar with the matter said on Friday. Supervalu is working with investment banks Lazard Ltd ( LAZ.N ) and Barclays Plc ( BARC.L ) as it explores its options, the source said, asking not to be identified because the matter is confidential. Supervalu, Lazard and Barclays could not be immediately reached for comment. Bloomberg News first reported on Supervalu’s sale deliberations. Supervalu shares ended up 9.3 percent at $16.75 on Friday, giving the company a market capitalization of $643 million. In February, Blackwells announced plans to nominate three directors to the company’s nine-member board. Last month, it increased its nominees to six. The fund first called on the company in October to “unlock the va
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