Supervalu Deal in Limbo and 3 Hot Stocks Trading Today
Singapore Airlines is reported to be looking to sell its 49% holding in the UK airline Virgin Atlantic and American carrier Delta Airlines (NYSE:DAL) is said to be in the running to acquire the stake, attracted by Virgin’s prized and hard-to-acquire landing slots at busy Heathrow airport and especially since its previous attempt to acquire a stake failed on account of price, among other issues. Virgin’s majority holder, Richard Branson, may welcome Delta’s entry as it would give his airline better access to routes between Britain and the United States.
According to a report in the Wall Street Journal, private equity firm Cerberus Capital Partners, which is planning to acquire Supervalu Inc (NYSE:SVU), may end up buying only the retailer’s Albertsons stores instead. The original discussions about a $5 billion acquisition of the whole of Supervalu seem to be on the back burner with Albertsons now in focus, says the WSJ. There were reports last week that Cerberus was having trouble securing funding for the deal, drawing a statement from Supervalu that discussions were still going on. On the flip side, the WSJ says Supervalu may not agree to sell the company piecemeal, preferring instead to implement its own multi-year turnaround plan.
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In what is hardly likely to be good news for banks, an online survey of 618 US consumers reveals they would be willing to try alternate sources of housing finance that would offer advantages such price, customer service and a trustworthy provider, says Reuters. About a third were willing to consider taking out a mortgage from retailer Walmart (NYSE:WMT) and half of them approved of online payment provider PayPal (NASDAQ:EBAY) as a mortgage lender.
“Mega Monday,” the busiest online shopping day of the year, will see US online retailer Amazon (NASDAQ:AMZN) launch its new and premium, online fashion store that will feature brands such as Black Orchid, Pringle and 7 for All Mankind. Amazon is perhaps hoping to repeat its retailing successes in books and technology in the fashion field where it sees “more and more customers discovering the benefits of shopping for clothing online,” says the Telegraph.
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