This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Symphony Investors LLC Announces Completion Of Tender Offer For Shares Of SUPERVALU Common Stock And Issuance By SUPERVALU Of Shares Of Common Stock To Symphony Investors LLC

NEW YORK, March 21, 2013 /PRNewswire/ -- Symphony Investors LLC ("Symphony") announced today that Symphony has completed its tender offer for up to 30% of the shares of common stock (the "Shares") of SUPERVALU Inc. (NYSE: SVU) (the "Company") outstanding as of immediately prior to 5:00 p.m., New York City time, on March 20, 2013 (the "Expiration Time").  The depositary for the tender offer has advised Symphony that as of the Expiration Time, approximately 11,686,406 Shares were validly tendered and not validly withdrawn pursuant to the tender offer.  The tendered Shares represent approximately 5.5% of the Shares outstanding as of immediately prior to the Expiration Time.  Symphony has accepted for purchase in accordance with the terms of the tender offer all Shares that were validly tendered and not validly withdrawn prior to Expiration Time, and payment for such Shares will be made promptly, in accordance with the terms of the tender offer.

In addition, Symphony announced today that pursuant to the tender offer agreement between Symphony, the Company and Cerberus Capital Management, L.P. ("Cerberus"), the Company has issued to Symphony an aggregate of 42,477,692 Shares representing approximately 19.9% of the outstanding Shares immediately prior to the Expiration Time (the "Issuance").  Concurrently with its acquisition of Shares pursuant to the tender offer and the Issuance, Symphony distributed 8,173,362 Shares representing approximately 3.2% of the outstanding Shares after giving effect to the Issuance to Kimvue Acquisition, LLC ("Kimvue"), one of the equity investors in Symphony and an affiliate of Kimco Realty Corporation, in connection with a redemption of Kimvue's equity interests in Symphony (the "Kimco Distribution").  Following the completion of the tender offer and the Issuance and after giving effect to the Kimco Distribution, Symphony holds an aggregate of 45,990,736 Shares representing approximately 18.0% of the outstanding Shares.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
YHOO $27.05 -3.29%
AAPL $95.01 1.05%
FB $99.75 -4.15%
GOOG $682.74 -0.12%
TSLA $147.99 -8.99%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs