A&P negotiates to purchase Pathmark
Feb 28, 2007 1:36 PM
The Great Atlantic & Pacific Tea Co Inc (A&P) is in negotiations to acquire Pathmark Stores Inc at a possible price of $12.50 per Pathmark share to be paid in cash and A&P stock. No final agreement has been reached, but if one occurs, it will be subject to a number of uncertainties and conditions. Among these would be shareholder and regulatory approvals, including federal and state antitrust clearances.
Founded in 1859, A&P is one of the nation’s first supermarket chains. The Montvale NJ-based company operates 410 stores in nine states and the District of Columbia under these trade names: A&P, Waldbaum’s, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center, and Food Basics.
Carteret NJ-based Pathmark has 140 stores in Pennsylvania, New Jersey, Delaware, and New York.
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