“Owner Of Albertsons Supermarkets Eliminates Dividend, Puts Itself Up For Sale”

Supervalu Inc., which owns Idaho Albertsons grocery stores, is suspending its dividend and considering selling all or part of the company.

CEO Craig Herkert said the board, management and financial advisers Goldman Sachs and Greenhill & Co. are looking at “strategic alternatives.” Some analysts have said Supervalu could be an attractive merger or acquisition target because of its strong cash flow.

“Our review of strategic alternatives will be broad-based and include looking at the sale or other disposition of all or part of the company,” Herkert wrote in a letter to employees, according to the Minneapolis-St. Paul Business Journal. Supervalu is based in suburban Eden Prairie, Minn.

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