On Monday, Shares of SUPERVALU INC. (NYSE:SVU), added 5.79% and closed at $5.30 in the last trading session. SVU stock opened its last trade at $5.19 and after floating in a range of $5.13 to $5.49. The company’s Market capitalization is $1.43 Billion with the total Outstanding Shares of 265.77 Million. During the 52-week trading session the minimum price at which share price traded, registered at $3.94 and reached to max level of $7.37. SUPERVALU INC. (SVU) recently declared that it has reached a definitive agreement whereby an associate of Onex Corporation (OCX.TO) will acquire SUPERVALU’s Save-A-Lot business for $1.365 billion in cash, subject to customary closing adjustments. In connection with the sale, SUPERVALU and Save-A-Lot will enter into a five-year professional services agreement. The sale of Save-A-Lot is expected to be accomplished by January 31, 2017, subject to regulatory approvals and other customary closing conditions.
“Recently’s declarement is the result of a thorough process to maximize the value of the Save-A-Lot business and best position SUPERVALU for future success,” said SUPERVALU Non-Executive Chairman of the Board, Jerry Storch. “SUPERVALU is successfully executing on its long term planned vision and positioning the Company for continued growth and value creation. We are confident that this transaction will create exciting opportunities for both SUPERVALU and Save-A-Lot.”
“The sale of Save-A-Lot is another important step in SUPERVALU’s transformation. It provides us with a stronger balance sheet that will allow us to further build on our core strengths and growth opportunities,” said SUPERVALU President and CEO, Mark Gross. “It has been a pleasure to work with the Save-A-Lot team, and, once this transaction is accomplished, I look forward to continuing to work with them as one of our leading professional services customers.”
Hecla Mining Company (NYSE:HL), jumped 6.87% and closed at $5.60 in the last trading session. HL stock opened its last trade at $5.26 and after floating in a range of $5.26 to $5.63. The company’s Market capitalization is $2.21 Billion with the total Outstanding Shares of 395.48 Million. During the 52-week trading session the minimum price at which share price traded, registered at $1.45 and reached to max level of $7.26. Hecla Mining Company (NYSE:HL) will host an Shareholder Day in Toronto on Thursday, October 20, and in New York on Friday, October 21. Presentations will be made by the company’s senior administration, and topics will include operations, innovation and exploration.
“Achieving 125 years of mining operations is a reflection of Hecla’s persistence in improving operational performance, the disciplined acquisitions we have made, and our ability to work through challenging times. As a result, we now have the most production and reserves and the brightest outlook in our history. I thank the entire Hecla team, both past and present, and all our stakeholders who have assisted us reach this milestone,” said Phillips S. Baker, Jr., President and CEO.