Minneapolis, MN
Cerberus Capital Management is currently working on a takeover offer for Supervalu Inc., whose shares rose around over 30 percent, Monday.
Earlier reports stated the private equity firm is pitching banks, including JP Morgan Chase & Co. and Bank of America, to arrange $4 billion to $5 billion in debt financing to back a bid for Supervalu.
A Supervalu spokesperson said though discussions with interested parties are in the works, there is no assurance the process will end in a deal.
The company owns chains including, County Market, Save-A-Lot, and Albertsons.
Supervalu
