Reuters – Cerberus Working on Bid for Supervalu

U.S. buyout firm Cerberus Capital Management LP is working with a group of real estate firms on a possible bid for supermarket chain Supervalu Inc., the Wall Street Journal reported on Monday, citing people familiar with the matter. Supervalu is considering a sale after losing customers to competitors like Wal-Mart Stores Inc. and Kroger Co., which has caused the company to close stores and cut costs. The chain is struggling with $6 billion in long term debt and pension liabilities.

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