SAN DIEGO, July 26, 2018 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of SUPERVALU INC. ("SUPERVALU")
(NYSE: SVU) breached their fiduciary duties in connection with the
proposed sale of the Company to United Natural Foods, Inc.
("UNFI"). SUPERVALU operates as a grocery wholesaler and retailer
in the United States and
internationally.
On July 26, 2018, SUPERVALU
announced that it had signed a definitive merger agreement with
UNFI. Under the terms of the merger agreement, UNFI will acquire
SUPERVALU for $32.50 per share in
cash
The investigation concerns whether the SUPERVALU board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for SUPERVALU
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
Wall Street analysts' projections for SUPERVALU's future
earnings and revenue growth. Additionally, one Wall Street analyst
has a $55.00 price target on the
stock.
If you are a shareholder of SUPERVALU and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If
emailing, please include a phone number. Additionally, you can
[click here to join this action].There is no cost or
obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP