Supervalu shares leap amid buyout buzz

Shares of Minnesota-based Supervalu jumped 38 percent on Monday after an analyst upgraded the stock due to the possibility that the grocery store chain might be bought out, the Star Tribune reports.
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Shares of Minnesota-based Supervalu jumped 38 percent on Monday after an analyst upgraded the stock due to the possibility that the grocery store chain might be bought out, the Star Tribune reports.

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Buyout speculation surrounds Best Buy, Supervalu

The two major Minnesota-based companies have watched stock prices drop dramatically as they struggle to grow sales. Some analysts believe the Richfield-based electronics retail giant and the Eden Prairie-based supermarket operator could be a prime target for cheap leveraged buyouts. The Star Tribune explains...

Supervalu to open books for potential buyers

The troubled Eden Prairie-based grocery-store chain is expected to provide prospective buyout firms financial information later this week, the Wall Street Journal reports. Last week, Supervalu hired Goldman Sachs to explore selling either part or all of its supermarket operations after it reported a plunge in quarterly profit.

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Supervalu plunges nearly 50 percent

Shares of the Eden Praire-based grocery retailer fell to an all-time low Thursday following news late Wednesday the company is exploring options that include putting itself up for sale. Supervalu is the third largest grocery company in the country, but has not turned an annual profit in three years.

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