Unnamed sources with knowledge of the matter told The Wall Street Journal that Supervalu is expected to send out confidentiality agreements to interested bidders this week, but the company’s financial advisors reportedly haven’t yet told potential buyers if they’ll attempt to auction the company in pieces or as a whole.
Banking + Finance
A temple of advanced mixology, with food that plays a distinct second fiddle.
Selling Hair Club for Men and Women aligns with Regis’ recent efforts to evaluate “non-core” assets, cut costs, and refocus on its North American salon operations.
The New Hope-based provider of DirecTV, voice, and high-speed Internet services is buying New Jersey-based MDU Communications International, Inc.
Supervalu’s stock price plummeted as the company announced poor first-quarter results and said it has hired financial advisors to help it review “strategic alternatives.”
Kozy Shack Enterprises’ dairy desserts complement Land O’Lakes’ own dairy products, the Arden Hills-based cooperative said.
The company plans to buy two Texas-based companies—Venture Encoding and CardsDirect—through separate deals.
Some high-profile projects—like the proposed St. Paul Saints ballpark and the Southwest Corridor light-rail line—previously announced plans to seek a share of the state funding, but 90 applications have now been filed.
The retailer said that the offer wasn’t in the best interest of its stockholders and adopted a measure to discourage a hostile takeover.
Archway—which employs roughly 1,800—operates more than 4 million square feet of warehouse facilities across 14 major metro areas throughout the United States and Canada.
UnitedHealth Group plans to hire 115 employees for a call center in Chico, California—continuing a recent hiring streak through which it is already adding more than 2,000 jobs in Colorado and Texas.
NewPage, which employs 285 at its Duluth paper mill, said that the proposed merger “posed significant downside risks to its stakeholders, employees, and business.”
The retailer said that June sales were strongest in the food category, followed by health and beauty.
Wayzata Investment Partners, which owns 49.8 percent of the media company, is seeking to buy some shares from another investor, thus increasing its stake to 58.2 percent.
The founder and former leader of alternative energy start-up Bixby Energy Systems pleaded not guilty Thursday to the fraud charges that he faces.
Aria Partners, which owns 4 percent of the women’s clothing retailer, has agreed to pay $1.75 per share and is taking the offer to shareholders; it said that an offer extended in May was “immediately dismissed.”
Best Buy’s stock price jumped 10 percent Monday morning and ultimately closed up 6 percent as some sources speculated that a buyout offer is imminent; another report indicated that such an offer is still a ways off.
The company, which was accused of manipulating customers’ transactions to generate excess overdraft fees, said it has made changes to the way it handles customers’ accounts.