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   Supervalu Sets Aug. 16 For Shareholder Meeting And Showdown With Activist Investment Firm
by Evan Ramstad, Star Tribune
Posted: Tuesday, July 3, 2018 at 3:49PM EDT

The activist investor pursuing control of Supervalu Inc. sought to take over its grocery-store chains, including Cub Foods, for nothing, the company told shareholders Monday.

Supervalu executives rejected the proposal, which was made at a meeting in January, saying that they would only sell the grocery operations to companies with a background in the business. The exchange revealed a new motive behind the increasingly tense battle between the Eden Prairie-based company and the activist, Blackwells Capital LLC, a New York investment firm.

That battle will climax on Aug. 16, the date of the company's annual meeting. In a regulatory filing announcing the date Monday, Supervalu urged shareholders to support its nominees to the company's board of directors and reject Blackwells' competing slate.

To read the rest of the story, please go to: Star Tribune


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