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MINNEAPOLIS (AP) -- The nation's second-largest grocery chain is being sold.
Albertson's Incorporation has agreed to sell its supermarket company for 17-point-four (B)billion dollars.
Supervalu announced this morning it's buying a large portion of Boise-based Albertsons. Which includes nearly six-hundred of its stores in Idaho, Utah, Nevada and the Northwest.
That leaves more than five-hundred Albertsons stores being bought by an investment group, which is led by Cerberus (SUR'-bur-us) Capital Management.
Albertsons says the deal is worth 26 dollars-and-29-cents a share. There's no indication yet that any Albertsons stores will close.
