Report: Supervalu closing in on sale
Supervalu stock closed up nearly 14 percent, to $2.90, after reports that the Eden Prairie, Minn.-based grocery chain is on the verge of selling its Albertsons and Save A Lot chains.
The parent company of Chicago-based Jewel-Osco, Supervalu has lagged competitors like Kroger and Dominick’s parent Safeway, and has acknowledged sale talks since mid-year.
Supervalu declined to comment on speculation, but reiterated a statement released last week that said that the company “continues to be in active discussion with several parties.”
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