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Activist Ends Board Fight at Supervalu, Allowing its Sale to Proceed

An activist investor dropped its effort to replace Supervalu Inc.’s board of directors, the company said Tuesday, three business days after the company announced its sale to another major food distributor. Blackwells Capital LLC, a New York investment firm that built a sizable stake in Eden Prairie-based Supervalu over the past year, proposed an alternative slate of board candidates for shareholders to vote upon at the company’s Aug. 16 annual meeting...

Mentions: Investment Annual Meeting Sale