Albertson's, Inc. Extends Tender Offer.BOISE, Idaho--(BUSINESS WIRE)--Aug. 26, 1998--Albertson's, Inc. (NYSE NYSE See: New York Stock Exchange :ABS) announced today that it is extending its 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 ) until 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 September 30, 1998. Albertson's noted that all other terms and conditions of its tender offer, including the purchase price of $15.50 per share, remain unchanged. Albertson's stated that it has reached a tentative agreement with the Federal Trade Commission (FTC FTC See Federal Trade Commission (FTC). ) staff and the staff has submitted that agreement for approval by the FTC commissioners with a favorable recommendation. Albertson's also reiterated that it has agreed with Buttrey that it will amend its tender offer to accelerate the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the offer (and the date on which it will purchase tendered shares) to a date that is not less than ten business days following the date on which all conditions to the offer (including clearance by the FTC) are satisfied, if such change would result in an earlier expiration date. Notice of such amendment will be given promptly by press release. Albertson's tender offer was scheduled to expire at 12:00 midnight on September 1, 1998. The depositary for the offer, ChaseMellon Shareholder Services, L.L.C., has advised Albertson's that as of the close of business on Tuesday, August 25, 1998, approximately 8.5 million shares of Buttrey common stock, or approximately 98% of the total number of outstanding shares had been tendered pursuant to Albertson's offer. The Information Agent for the offer is Georgeson & Company Inc., and questions about the offer may be addressed to them 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Boise, Idaho based company currently operates 932 retail stores in 24 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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