SVU surges 40%!
The private equity firm, Cerberus Capital Management was reported to be working on a takeover bid for SVU, sending Supervalu's shares up more than 40 percent on Monday! SVU has been losing customers to competing supermarket operators like Wal-Mart and Kroger, which has forced it to aggressively close stores and cut costs. Hence, it is expected that the management is cordial to the takeover and we agree! We would be happy to recover a good portion of our loss and free our cash if the bid completes!
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Stay tuned for our next recommendation coming soon!