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Cerberus-Backed Albertsons Falls Short With $800 Million IPO

  • Albertsons shrinks size of offering, prices shares below range
  • Cerberus heads for an exit at grocer Albertsons after 14 years
Albertsons U.S. IPO Seeks Up To $1.3 Billion
Photographer: Bing Guan/Bloomberg
Updated on

Albertsons Cos. is emerging from Cerberus Capital Management’s portfolio in a shrunken, below-range initial public offering raising only $800 million.

Certain stockholders sold 50 million shares for $16 each in the IPO on Thursday, Albertsons said in a statement. Private equity firm Cerberus and other backers of the supermarket chain had earlier offered 65.8 million shares for $18 to $20, which could have raised as much as $1.3 billion.