WETTERAU UNABLE TO REACH AGREEMENT WITH SUPERVALU INC.
WETTERAU UNABLE TO REACH AGREEMENT WITH SUPERVALU INC. ST. LOUIS, June 30 /PRNewswire/ -- Wetterau Incorporated
(NASDAQ: WETT) announced today that it and SUPERVALU INC. have been unable to reach agreement for the acquisition of Wetterau by SUPERVALU on the terms outlined in their previously announced letter of intent. At a meeting scheduled for later today, the Wetterau board will consider revised terms for the transaction proposed by SUPERVALU which include a reduction in the aggregate consideration to be received by Wetterau shareholders. Any understanding or agreement in principle with respect to the revised terms would continue to be subject to the negotiation and execution of a definitive agreement approval thereof by the boards of directors of Wetterau and SUPERVALU, as well as the shareholders of Wetterau, and regulatory approvals.
-0- 6/30/92 /CONTACT: Dick N. Dalton, senior vice president of Wetterau, 314-595-4100/ (WETT) CO: Wetterau Incorporated; SUPERVALU INC. ST: Missouri IN: SU:
TQ -- NY044 -- 5118 06/30/92 10:59 EDT
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|Date:||Jun 30, 1992|
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