Albertson's, Inc. Commences Tender Offer For Buttrey Food And Drug Stores Company.BOISE, Idaho--(BUSINESS WIRE)--Jan. 26, 1998--Albertson's, Inc. (NYSE NYSE See: New York Stock Exchange :ABS) announced today that Locomotive Acquisition Corp., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , has commenced its tender offer to purchase all outstanding shares of Buttrey Food and Drug Stores Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BTRY BTRY Battery BTRY Battery, Field Artillery ) for $15.50 net per share. The offer and withdrawal rights are scheduled to expire at 12:00 midnight, 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 Monday, February 23, 1998, unless the offer is extended by Albertson's, Inc. The offer is being made in accordance with the previously announced merger agreement among Albertson's, Inc., Locomotive Acquisition Corp. and Buttrey Food and Drug Stores Company. The offer is subject to regulatory approval and certain conditions, including the tender of a majority of the outstanding Buttrey shares. The offer is being made pursuant to a Tender Offer Statement on Schedule 14D-1 to be filed today by Albertson's, Inc. with the Securities and Exchange Commission and mailed to Buttrey shareholders. Copies of the tender offer materials may be obtained from the Information Agent, Georgeson & Company Inc., by calling 212/440-9800 or 800/223-2064. Albertson's, Inc. is one of the largest retail food-drug chains in the United States. The Boise, Idaho based company currently operates 869 retail stores in 20 Western, Midwestern and Southern states. CONTACT: Albertson's, Inc., Boise, Idaho Investor Relations Investor relations The process by which the corporation communicates with its investors. A. Craig Olson 208/395-6284 Renee Bergquist 208/395-6622 News Media 208/395-6392 Mike Read Jenny Enochson |
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