Money and Markets: Investing Insights
Mike Larson
| Thursday, October 15, 2015 at 4:22 pm

What happened to the Albertsons IPO???

Things were even worse for the grocery store chain Albertsons Cos. It wanted to sell 65 million shares for $23 to $26 late Wednesday. But then Wal-Mart Stores (WMT) dropped its earnings bomb on Wall Street. That provoked fears of stiff competition, deteriorating margins, and weak sales among grocery store and general merchandise firms.

So Albertsons had to yank the deal entirely. Whether it will be able to raise the $1.7 billion it was seeking at a later date be forced to sell fewer shares or accept a lower price or shelve the transaction entirely remains to be seen.