Tags: Albertsons | Bid | High-end | Grocer | Whole Foods | supermarket

Albertsons Exploring Take Over Whole Foods: FT

Albertsons Exploring Take Over Whole Foods: FT
Gloria P. Meyerle | Dreamstime.com

Monday, 24 April 2017 02:51 PM

Albertsons Cos. Inc is. exploring a takeover of high-end grocer Whole Foods Market Inc, the Financial Times reported on Monday, citing people familiar with the matter.

Whole Foods shares, which touched a more than 1-1/2 year high on Monday, were up 4.4 percent in afternoon trading.

Albertsons, the second largest operator of grocery stores in the United States, has had preliminary talks with bankers about making a bid, according to the FT report.

No formal bid has yet been made, the newspaper reported.

Whole Foods had a market cap of $11.38 billion as of Friday's close.

Sources told Reuters on Monday that Whole Foods hired investment bank Evercore Partners to defend itself against Jana Partners, but there were currently no plans for the company to explore a sale.

Albertsons, which is controlled by buyout group Cerberus Capital Management, said it did not comment on speculation, while Whole Foods declined to comment.

Earlier this month hedge fund Jana Partners disclosed a 8.3 percent stake in Whole Foods and said it intends to hold discussions with the company's board about exploring strategic options.

© 2019 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
StreetTalk
Albertsons Cos. Inc is. exploring a takeover of high-end grocer Whole Foods Market Inc, the Financial Times reported on Monday, citing people familiar with the matter.
Albertsons, Bid, High-end, Grocer, Whole Foods, supermarket
181
2017-51-24
Monday, 24 April 2017 02:51 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved