A very short Reuters clip in today’s Trib on the Jewel sale. The other stores? Who cares. But interestingly enough, if they sold for 3.3 billion, of which 3.2 billion was debt, that means I could have probably picked up a few Jewel stores for clipped insert coupons and IPs, right? And my first order of business would have been to fire those corporate bums.
Supervalu Inc. on Monday named a new president for its Save-A-Lot discount chain and announced other management changes as the supermarket operator and food distributor gets ready to close a deal that will make it a leaner company.
Supervalu said it should close the deal to sell five of its supermarket chains to an investor group led by Cerberus Capital Management LP during the week of March 18. It had announced the $3.3 billion transaction, which includes the assumption of $3.2 billion in debt, in January. Read the rest here.