A&P Receives "Second Request" From FTC For Pathmark Merger Related Information.MONTVALE, N.J. -- The Great Atlantic & Pacific Tea Company, Inc. (A&P)(NYSE NYSE See: New York Stock Exchange :GAP) today announced that yesterday the Federal Trade Commission (FTC FTC See Federal Trade Commission (FTC). ) issued a Request for Additional Information and Documentary Material - commonly known as a "Second Request" - in connection with A&P's recent agreement to acquire Pathmark Stores, Inc. The Second Request was issued to the Tengelmann Group The Tengelmann Group is a holding company based in Mülheim an der Ruhr. Structure The corporation has the following daughter companies:
The Company said the effect of this action is essentially to extend the waiting period pursuant to the HSR Act until 30 days following the Company's substantial compliance with the Second Request, unless the FTC terminates the waiting period earlier. A&P will continue cooperating with the FTC's review, and will comply with the Second Request in a timely fashion. The Company continues to expect the transaction to close in the second half of A&P's current fiscal year ending in February 2008. Founded in 1859, A&P is one of the nation's first supermarket chains. The Company operates 410 stores in 9 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). under the following trade names: A&P, Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center and Food Basics
Food Basics is a no-frills Canadian supermarket chain created by A&P Canada to compete with the successful No Frills warehouse style supermarket operated by Loblaw. . This release contains forward-looking statements about the future performance of the Company, which are based on Management's assumptions and beliefs in light of the information currently available to it. The Company assumes no obligation to update the information contained herein. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements including, but not limited to: competitive practices and pricing in the food industry generally and particularly in the Company's principal markets; the Company's relationships with its employees and the terms of future collective bargaining agreements The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. ; the costs and other effects of legal and administrative cases and proceedings; the nature and extent of continued consolidation in the food industry; changes in the financial markets which may affect the Company's cost of capital and the ability of the Company to access capital; supply or quality control problems with the Company's vendors; and changes in economic conditions which affect the buying patterns of the Company's customers. |
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