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SUPERVALU Inc. Message Board

  • ihatesachinshah ihatesachinshah Jan 28, 2013 3:19 PM Flag

    LAWSUIT ON BEHALF OF SUPERVALU SHAREHOLDERS

     

    TENDER OFFER FOR SUPERVALU SHARES – LAW FIRM CHALLENGES CANDOR OF BOARD ON BEHALF OF SHAREHOLDERS
    NEW YORK--(PRNEWSWIRE)--Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the tender offer for shares of SuperValu Inc. (NYSE: SVU). SuperValu announced that it had entered into an agreement with a consortium led by Cerebus Capital Management L.P. (the “Consortium”) under which the Consortium acquired certain assets of SuperValu and commenced a tender offer for up to 30% of SuperValu’s shares for $4.00 per share.
    Despite hiring Goldman Sachs as its financial adviser, SuperValu’s board of directors failed to provide to SuperValu’s shareholders any financial information concerning the transaction that would allow the Company’s shareholders to make an informed decision about whether the price offered is fair or unfair and whether or not to tender their shares in the tender offer.
    The investigation concerns whether the board of directors of SuperValu breached their fiduciary duties by not providing this information to SuperValu’s shareholders and thus not acting in shareholders' best interests in connection with the transaction process.
    If you own SuperValu common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact us toll Free: 877-772-3975

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