Supervalu Stock Rises on LBO Speculation

MINNEAPOLIS — Stock in Supervalu was up by more than 40% Monday, apparently driven by speculation of a leveraged takeover.

Published reports, citing Debtwire, said Cerberus Capital Management was seeking $4 billion to $5 billion in debt financing to back a takeover bid for Supervalu. Also Monday, an analyst for JP Morgan reportedly upgraded ratings of Supervalu bonds on the 50% chance of a leverage

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TAGS: News Supervalu
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