Albertson's, Inc. Continues Discussions With FTC.BOISE, Idaho--(BUSINESS WIRE)--March 27, 1998--Albertson's, Inc. (NYSE NYSE See: New York Stock Exchange :ABS) announced today that discussions with the Federal Trade Commission (FTC FTC See Federal Trade Commission (FTC). ) regarding Albertson's tender offer for all outstanding shares of common stock 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 ) are continuing and that Albertson's has agreed not to complete substantial compliance with the FTC's second request for information without giving the FTC 10 days advance notice. Albertson's noted that under the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the , it cannot purchase shares tendered pursuant to its offer any earlier than 10 days after it substantially complies with the FTC's second request, absent an agreement with the FTC. Albertson's expressed continued confidence that its acquisition of Buttrey will be completed. The Company reiterated that the terms and conditions of its tender offer, including the purchase price of $15.50 per share, remain unchanged. Albertson's, Inc. is one of the largest retail food-drug chains in the United States. The Boise, Idaho based company currently operates 894 retail stores in 21 Western, Midwestern and Southern states. CONTACT: Albertson's, Inc., Boise, Idaho Investor Relations: A. Craig Olson 208/395-6284 Renee Bergquist 208/395-6622 News Media 208/395-6392 Mike Read Jenny Enochson |
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