It's not Joe Albertson's supermarket anymore

[IDemo]

Albertsons Shares Rise as Reported Buyout Nears End
By Jesus Sanchez, Times Staff Writer

Shares of Albertsons Inc. rose today after an investment group was reportedly close to completing a deal to acquire and split up the struggling supermarket and drugstore operator.

A consortium that includes Cerberus Capital, Kimco Realty Corp. and the grocery store chain Supervalue Inc. had topped rival bidders with a $9.6-billion offer to buy Boise, Idaho-based Albertsons, according to unidentified sources cited by a report in today's Wall Street Journal.

As part of the deal, which is still being negotiated, Albertsons would sell its Sav-On drugstore chain to rival CVS Corp., the Journal said.

Wall Street welcomed the news and pushed up Albertsons' shares 34 cents, or 1.42%, to close at $24.33 on the New York Stock Exchange.

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This could have a big impact on the local economy. Look for their headquarters to relocate and for several stores to close. The high prices did them in, but still kinda sad to see after all the family did for the Treasure Valley..

[aePrime]

1. Yeah

I used to be kind of proud that Albertsons was from my home town. But then they because so...corporate.