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The Financial Times reports that Albertsons’ board of directors is scheduled to meet this weekend to evaluate the current status of the company’s proposed sale.

However, according to the paper, things are not going as hoped.

First of all, there is only one credible offer on the table for the entire company – from a consortium that includes Apollo Management, Kohlberg Kravis Roberts, and Texas Pacific Group. And the price is several dollars per share lower than the company was hoping it would fetch.

There are other possibilities, of course.

Company management could decide to stay independent. They could sell off the company in pieces. They could decide to take a lower price. Or, there could be new offers put on the table, including one from Kroger, which is reported to be pondering a bid made in conjunction with Thomas H Lee Partners and Bain, which previously dropped out of the bidding. Another group, made up of Cerberus Capital and Kimco Realty, joined by Supervalu, also reportedly is interested in making a bid.
KC's View:
Larry Johnston must be wondering how come he can’t get a break. Couldn’t get the company operating at the level it needed to, and now can’t sell it for the price he wanted to.

Just can’t get a break.