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BRIEFLY

Pacific Lighting officially acquired Thrifty.

August 06, 1986

The merger, which involved an exchange of stock valued at about $810 million based on Tuesday's prices, became effective after shareholders of the two companies approved the deal at special meetings. In the merger, each outstanding share of Thrifty's common stock was converted into 0.802 of a share of Pacific Lighting common stock. The merger plan was announced May 28. In addition, Thrifty Chairman Leonard H. Straus was named to the board of Pacific Lighting, parent of Southern California Gas. Thrifty owns 555 drug and discount stores and the Big 5 sporting goods chain.

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