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Prospect News home > News index > List of issuers G > Headlines for Great Atlantic & Pacific Tea Co., Inc. (A&P) > News item |
Tengelmann owns 41.3% of A&P
By Lisa Kerner
Charlotte, N.C., Oct. 20 - A group of Great Atlantic & Pacific Tea Co., Inc. investors led by Tengelmann Warenhandelsgesellschaft KGG bought 189,900 shares on Oct. 15 and Oct. 16 at prices from $5.5198 to $6.32 each.
The investors beneficially own 23,837,101 shares, or 41.3%, of the Montvale, N.J.-based supermarket chain, according to a schedule 13D/A filed with the Securities and Exchange Commission.
Tengelmann said it expects to continue to nominate persons for election as directors of the company and seek to influence the composition of the board.
The investor may also seek to influence the company's corporate governance, management and strategy, subject to the corporate governance provisions of the March 4, 2007 stockholder agreement between Tengelmann and the company, the filing said.
In July, Tengelmann submitted a notification and report form under the Hart-Scott-Rodino Act in connection with its plan to acquire additional shares of A&P that could result in the shareholder's ownership percentage exceeding 50%.
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