Supervalu has been quietly shopping New England grocery-store chain Shaw’s for several months but hasn’t found any takers so far, people familiar with the matter say.
Supervalu was seeking more than $1 billion for the Shaw’s unit, which drew interest mainly from private-equity firms, these people said. But most of the bids came in below the asking price, making it difficult for Supervalu to part with the chain, they added.
Still, the company might eventually sell Shaw’s if a buyer offers the right price, or if it decides to sell at a lower price. For now the auction is effectively dead, according to the people.
A Supervalu spokesman declined to comment.
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