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SUPERVALU INC. (NYSE: SVU) Investor Lawsuit Filed Against Acquisition By United Natural Foods, Inc

  • Investors who purchased shares of SUPERVALU INC. (NYSE: SVU) and currently hold any of those NYSE: SVU shares have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
SUPERVALU Inc.
Security
NYSE: SVU

Case Name
SUPERVALU Deal Case
Type of Lawsuit
Mergers and Acquisition
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Summary

An investor, who currently hold shares of SUPERVALU INC. (NYSE: SVU), filed a lawsuit against the takeover of SUPERVALU INC. by United Natural Foods, Inc.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: SVU stockholders by agreeing to sell SUPERVALU INC. cheaply via an unfair process.

Eden Prairie, MN based SUPERVALU INC., together with its subsidiaries, operates as a grocery wholesaler and retailer in the United States and internationally. SUPERVALU INC. reported that its annual Total Revenue rose from over $10.91 billion for the 12 months period that ended on February 25, 2017 to over $14.15 billion for the 12 months period that ended on February 24, 2018.

On July 26, 2018, United Natural Foods, Inc. (NASDAQ: UNFI) and SUPERVALU INC. (NYSE: SVU) announced that they have entered into an agreement under which UNFI will acquire SUPERVALU for $32.50 per share in cash, or approximately $2.9 billion, including the assumption of outstanding debt and liabilities.

However, plaintiff claims that the proposed consideration NYSE: SVU shareholders will receive is grossly inadequate and undervalues SUPERVALU INC. indeed, at least one analyst has set the high target price for NYSE:SVU shares at $55.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE: SVU stockholders.