They filed on July 8th, 2015............but no set date yet for $100M IPO..............
Now that Haggen is about to disappear from many towns where they bought Albertsons'..........that should benefit the remaining Albertsons' stores in those towns.......... Not that Haggen ever was "competition"...... but it's always better when a potential competitors just vanishes.
Oh well............let' s see about that IPO .......... should be in Fall sometimes.
SVU is a buy right now...........but that is just mvho........
Haggen filed Chapter 11 on Sept. 8, 2015.
Nobody is surprised....... and more stores will be closed.
They cannot even afford to pay the terminated employees..........
Talk about messing up quickly and royally.
"BELLINGHAM, WA (AP) — The small grocery-store chain Haggen on Tuesday sued Albertsons for more than $1 billion in damages, alleging the supermarket giant engaged in systematic efforts to eliminate it as a viable competitor in five states."
Ah-Ah-Ah.......too funny......... Haggen really came in kind of arrogant claiming "No More Hassle" when replacing Albertsons stores in June. Now it shows that in towns where nobody had ever heard of Haggen.....people continued to go to Albertsons and did not buy into the higher prices set by Haggen. People are not dumb, and Haggen is closing 2 of the three stores that bought in my town........I don't expect the third store to survive past the time it will take to liquidate the inventory of the two closing stores using the last one open........Dec. 31, 2015 is my best date when Haggen will leave my town.....and regret its "little adventure".
Too much growth too fast..........and no own DD before jumping into a very competitive market might turn out to be be very expensive learning experience for Haggen. I do feel sorry for the employees though.
Haggen not doing good with its purchase from Albertson's :
"More than 20 stores will be closed or sold in California, Arizona, Nevada, Oregon and Washington."
This is what happens when a frog wants to become a bull overnight...........
From Greenhill's website, under "Recent Transactions"
7/28/15 ... "Pending" ... Save-A-Lot ... (paraphrasing here) "Advising SuperValu on exploring a separation of
Save-A-Lot, including a potential spinoff of it into a publicly traded company"
The presence of the aforesaid, on Greenhill's website, would lead one to believe that matters relating to a
possible Save-A-Lot separation, from SVU, are in a reasonably advanced stage.
Per North Tide Capital, LLC SEC Schedule 13G filing, dated 7/28/15, "North Tide" ownership interest
in SVU is:
North Tide Capital Master, LP 5.2%
North Tide Capital, LLC 5.7%
Conan Laughlin (North Tide founder) 5.7%
North Tide SVU shareholdings sort of interesting in that, historically, a very high percentage of their investments have been in the healthcare sector.
The fact that they are considering a spin off probably means that holders of SVU stock will be granted free shares of SAL pro rated. The big boys already knew this thus the steady deline of the PPS to reflect a more reasonable valuation for SVU as a stand alone.
They are able to short it down from around $12 to close to $7 then turn on a dime and go long before the announcement today.
The value of the 2 companies will exceed that $12 figure after spin off. It also puts a true stand alone valuation on SAL for anyone looking to possibly aquire it. JMHO
IF that happens, it could be good for SAL in several ways, but what of svu will be left
and how will they fair without SAL as a whole? Alot to work out.
This news should come as no real surprise to anyone familiar with SVU. The SAL portion has always been viewed as the greatest opportunity to generate cash when it is sold. So are you seeing the value to shareholders coming from what is left after the spin off?
They keep mum, because Kroger could make an offer before Albertson's IPO. People will look at the valuations when Albertsons go public and SVU is positioned well.