RiverNorthPhotography/iStock Unreleased via Getty Images
Albertsons (NYSE:ACI) rose 2.9% after the company disclosed Friday that a lock-up agreement with the company's sponsors was extended until the company's earnings release in October.
The company's largest stockholders, Cerberus, Klaff Realty, L.P., Lubert-Adler Partners and Jubilee Limited Partnership agreed to extend an agreement that restricts the investors from selling or transferring shares of the company's stock through Oct. 18, when the company is scheduled to release its Q2 results, according to an 8-K filing.
The lockup agreement was set to expire Saturday and now has been extended for a second time after it was originally extended in June. The news comes after Albertsons (ACI) announced in late February that it was evaluating strategic alternatives.
Kimco Realty (NYSE:KIM), one of the company's largest sponsors and a company that was in the original lock-up extension, is notably absent from the lock-up extension until next month. Kimco shares rose 1.3%.
Early last month Albertsons (ACI) shares spiked up on speculation about a potential deal with Ahold Delhaize (OTCQX:ADRNY). The move followed a report from Gordon Haskett that cited plane tracking data that indicated Albertsons' (ACI) jets were spotted at Ahold Delhaize's home airport in Bedford, Massachusetts.
Albertsons shares may also be moving in sympathy with competitor Kroger (KR) after the supermarket chain posted better than anticipated earnings and raising its full-year outlook. Kroger rose 3.8%.
Kimco (KIM) is scheduled to present Wednesday at a Bofa real estate conference.
Editors note: Corrects to show that Kimco Realty is not included in the lock-up extension.