A&P, Pathmark agree to Federal Trade Commission's timing as result of second request

By Lisa Kerner

Charlotte, N.C., May 21 - The Great Atlantic & Pacific Tea Co., Inc. and Pathmark, as the result of an April 18 request for more information from the Federal Trade Commission, will not certify they have substantially complied with the second request prior to June 30. The FTC's second request also extends the Hart-Scott-Rodino waiting period, according to a company news release.

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 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 was 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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