Second request by FTC extends waiting period in Pathmark, A&P merger

By Lisa Kerner

Charlotte, N.C., April 19 - The Federal Trade Commission requested additional information in the proposed merger between Pathmark Stores, Inc. and the Great Atlantic & Pacific Tea Co., Inc., according to an 8-K filing with the Securities and Exchange Commission.

As a result of the April 18 second request, the waiting period under the Hart-Scott-Rodino Act is extended until 30 days after the companies have substantially complied with the request.

On March 5, A&P entered into a definitive agreement to acquire Pathmark for $1.3 billion in cash, stock and debt.

Pathmark shareholders will receive $9.00 in cash and 0.12963 of an A&P share for each Pathmark share.

The transaction, which includes a one-year termination fee of $50 million, will result in a 550-store, $11 billion supermarket chain. Both companies' boards have unanimously approved the deal, which is expected to close in the second half of 2007.

A&P is based in Montvale, N.J., and operates 410 supermarkets in 9 states and the District of Columbia.

Pathmark is a 141-store supermarket chain based in Carteret, N.J.

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