June 26, 1989
Stakes Raised in Bid for British Firm: A U.S. partnership led by investment bank Wasserstein Perella & Co. raised its takeover bid in a hotly contested battle for Gateway Corp., Britain's third-largest supermarket chain. The higher bid was endorsed by the company and appeared to give the U.S. bidders an edge in the contest against rival Isosceles PLC, a British investor group that has bid $3.60 a share. Wasserstein Perella and West German-controlled Great Atlantic & Pacific Tea Co. offered to pay $3.70 a share for Gateway.
July 21, 1988 |
A retail broker at Gruntal & Co., a New York stock brokerage, was indicted on 31 counts of insider trading, perjury and mail fraud for allegedly using inside information to buy stock in a supermarket chain before it was acquired in 1986 by Great Atlantic & Pacific Tea Co. A federal grand jury in Manhattan on Wednesday accused Robert Chestman, 41, a senior vice president at Gruntal, of buying stock in Waldbaum Inc., a New York regional supermarket chain, in November, 1986.