Filing Shows That Albertsons Rejected a Higher Sale Offer

Summary

---

BOISE (AP) -- Before agreeing that Albertsons Inc. would be sold to a consortium led by Minnesota-based grocer Supervalu and drugstore chain CVS Corp., Albertsons directors rejected an offer from another party for up to $30 per share, 14 percent higher than the Supervalu deal, according to a report filed with the Securities and Exchange Commission.

In a disclosure filed May 18 as part of a settlement of a shareholder lawsuit, Albertsons said the proposal from an unidentified party was "substantially less firm" than the proposal offered by the Supervalu consortium and ultimately accepted by Albertsons directors Jan. 23.

See the full content of this document

Extract

---

Filing Shows That Albertsons Rejected a Higher Sale Offer

The rejected proposal would have recapitalized Albertsons and kept the current board and manage...

See the full content of this document

---