SuperValu Sales Talks with Cerberus Stall: Business Roundup

Supervalu's Future in Limbo

Citi analyst Deborah Weinswig boosted her price target for SuperValu by $1, or 50 percent, to $3 Wednesday.

According to CBS Money Watch article, Weinswig's prediction is based on the hope that the large grocery store chain is getting close to selling some of its assets.

SuperValu has been struggling to compete in a tough economy and has replaced its CEO, closed stores, instituted layoffs and more. Company stock has lost two-thirds of its value this year, according to the article.

While Weinswig was hopeful of some sales in the near future, the Pioneer Press reported talks with one company in particular, Cerberus, were halted this week. According to the article, sources close to the negotiations said talks were stalled because Cerberus, a private-equity firm, has had trouble obtaining the funds for a leveraged buyout.

Without a sale to Cerberus, Supervalu risks having to restructure its grocery chains on its own or sell individual assets, the sources reportedly told the Pioneer Press.

Eden Prairie Patch will update readers as more information becomes available.

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