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SUPERVALU AND WETTERAU ANNOUNCE REVISED LETTER OF INTENT

 SUPERVALU AND WETTERAU ANNOUNCE REVISED LETTER OF INTENT
 ST. LOUIS, June 30 /PRNewswire/ -- SUPERVALU INC. (NYSE: SVU) and Wetterau Inc. (NASDAQ: WETT) today jointly announced that, after further negotiation, they have reached a revised letter of intent whereby Wetterau's common shareholders would receive $30.25 per share in cash from SUPERVALU INC., and there will be no distribution of shares in Wetterau's Shop 'n Save subsidiary. The Shop 'n Save retail food stores will continue to be part of the Wetterau operations and will be included in the merged entity.
 The transaction continues to be subject to the negotiation and execution of a definitive merger agreement, approval thereof by the boards of directors of Wetterau and SUPERVALU, and by shareholders of Wetterau, and regulatory approvals. It is also subject to the receipt by the Wetterau Board of Directors of an opinion from Goldman, Sachs & Co. that the consideration to be received by the Wetterau shareholders is fair to such shareholders. The parties contemplate that a definitive merger agreement will be executed by July 10, 1992, and the merger will be completed by September 30, 1992.
 -0- 6/30/92
 /CONTACT: Dick N. Dalton of Wetterau, 314-595-4100; or Michael L. Mulligan of SUPERVALU, 612-828-4441; or Jeffrey C. Girard of SUPERVALU, 612-828-4028/
 (SVU WETT) CO: SUPERVALU INC.; Wetterau Inc. ST: Missouri IN: REA SU:


MC -- SF015 -- 5367 06/30/92 17:28 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
Words:231
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