Energy News / Shareholders Foundation, Inc.

NYSE:SVU Investor Alert: Lawsuit Filed Against Takeover of SUPERVALU INC. by United Natural Foods, Inc

Via: ReleaseWire

Updated 11:43 AM CDT, Tue, September 11,2018

A lawsuit was filed for investors in shares of SUPERVALU INC. (NYSE: SVU) in connection with the proposed takeover and NYSE: SVU stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 09/11/2018 -- The Shareholders Foundation announces that 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.

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 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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.

Those who are current investors in SUPERVALU INC. (NYSE: SVU) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nysesvu-investor-alert-lawsuit-filed-against-takeover-of-supervalu-inc-by-united-natural-foods-inc-1046236.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com