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Peapod Buys Streamline.com's Assets

September 08, 2000|Associated Press

Online grocer Peapod Inc. said it's ending service in four cities and strengthening operations elsewhere by buying assets of ailing rival Streamline.com Inc. Peapod will stop operations in Houston, Dallas and Austin, Texas, and Columbus, Ohio, and will pay $12 million for Streamline.com's operations in greater Chicago and Washington, D.C. Shares of Westwood, Mass.-based Streamline fell 16 cents to close at 84 cents, and Skokie, Ill.-based Peapod rose 19 cents to close at $2.19, both on Nasdaq.

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