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Tuesday, October 12, 2010

Supervalu shares up on takeover speculation

Shares of supervalu were up more than 5% Monday as takeover talk made its way around wall street. Investors bought up approximately 1700 November call option contracts for $12 strike price. This indicates that investors are betting for a huge upward move in price in a short period of time.

Supervalue is a United States grocery channel. It is due to release its second-quarter earnings report on the morning of October 19.