Supervalu, CVS to buy Albertsons
Albertsons announced that it has entered into a definitive agreement to sell the entire company to a consortium of investors that includes Supervalu and CVS for a total transaction value of about $17.4 billion in cash, stock, and assumed debt. Supervalu will buy 1,124 stores from Albertsons for $9.7 billion in cash and stock. CVS Corp. is expected to buy 700 stand-alone Sav-On and Osco drugstores for $2.93 billion. Albertsons put itself up for sale last September.
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