Ahold's Acquisition of Giant Food Nears Completion.ZAANDAM, The Netherlands--(BUSINESS WIRE)--Sept. 11, 1998--Royal Ahold (NYSE NYSE See: New York Stock Exchange :AHO), the international food retailer, is making considerable headway in its discussions with the staff of the Federal Trade Commission (the "FTC FTC See Federal Trade Commission (FTC). ") regarding its approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.7 billion acquisition of Giant Food Inc., the U.S. supermarket company prominent in Washington DC and Baltimore, MD. Ahold is in the process of negotiating sale agreements with buyers for the 10 stores that are required to be divested. Although any such agreements are subject to regulatory approval, Ahold has received preliminary indications from the FTC staff that the proposed buyers will be acceptable. The company now expects final FTC approval for the transaction in the course of the weeks ahead. As a result, the Ahold tender offer for the Class A Non-Voting Stock Non-voting stock is stock that provides the shareholder very little or no vote on corporate matters, such as election of the board of directors or mergers. This type of share is usually implemented for individuals who want to invest in the company’s profitability and success of Giant Food has been extended until 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on October 2, 1998. Based upon information provided by the Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , as depositary for the offer, as of the close of business on September 10, 1998, approximately 48.3 million shares (81%) of the outstanding Class A Non-Voting Stock have now been tendered and not withdrawn.
CONTACT: Royal Ahold, Media Relations
Hans Gobes
011-31-75-659-5665
After office hours:
011-31-23-527-0456
or
Royal Ahold, Investor Relations
Stuart Brown
011-31-75-659-5648
e-mail: investor.relations@corp.ahold.nl
or
Taylor Rafferty Associates
Anne Beevers
212/889-4350
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