A&P, Pathmark merger to settle in December

By Devika Patel

Knoxville, Tenn., Nov. 6 - The Great Atlantic & Pacific Tea Co., Inc. announced that its planned acquisition of Pathmark Stores, Inc. is expected to close by the end of December.

As previously reported, A&P agreed on March 5 to acquire Pathmark for $1.3 billion in cash, stock and debt assumption or retirement. Pathmark shareholders will receive $9 in cash and 0.12963 of a share of A&P stock 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, an earlier news release stated.

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

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.