Albertsons stock rose 7. 9 percent yesterday on trading volume more than triple its daily average after a report that private-equity investors...
BOSTON — Albertsons stock rose 7.9 percent yesterday on trading volume more than triple its daily average after a report that private-equity investors are lining up to bid on the supermarket chain.
Shares of Boise, Idaho-based Albertsons climbed $1.81 to close at $24.86 on the New York Stock Exchange.
Private-equity firms Kohlberg Kravis Roberts, Apollo Advisors, Bain Capital, Thomas H. Lee Partners and Carlyle Group are interested in buying the company, according to a report yesterday on TheDeal.com Web site.
The report didn’t name its sources for the information.
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It also said bidding for the company could bring “more than $16 billion, including the assumption of $6 billion in long-term debt.” The report said first-round bids were due Sept. 5 and a transaction may be completed by the end of November.
Albertsons didn’t immediately return a call seeking comment. A Bain Capital representative didn’t have an immediate comment on the report. A Thomas H. Lee Partners representative said the firm declined comment.
Albertsons last week said it had hired Goldman Sachs and Blackstone Group to seek strategic alternatives for the company.
Albertsons, whose chains include Jewel and Shaw’s, has been hurt by competition from Wal-Mart Stores and a 20-week labor strike, which led to a profit decline in three of the past four years.
Information from Bloomberg News is included in this report