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Supermarkets General Corp

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BUSINESS
March 26, 1987
Landover, Md.-based Dart Drug Corp. raised its $1.6-billion unsolicited takeover bid for Supermarkets General Corp. by $127 million, offering $45 per share for the nation's eighth-largest food chain. Leonard Lieberman, chairman of Supermarkets General, said the Woodbridge, N.J., chain "will seriously consider" the new offer. Dart owners Herbert Haft and his son Robert, who offered Supermarkets General shareholders $41.
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BUSINESS
July 31, 1991 | From Times Staff and Wire Reports
L.A. Firm to Buy New England Food Stores: The Los Angeles investment firm Freeman Spogli & Co. said it will buy 127 food and convenience stores in New England from Supermarkets General Holdings Corp. for $300 million. Freeman Spogli said Supermarket General's Purity Supreme Stores unit is made up of 64 supermarkets in New England and a 63-store chain of Li'l Peach convenience stores in Massachusetts.
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BUSINESS
July 31, 1991 | From Times Staff and Wire Reports
L.A. Firm to Buy New England Food Stores: The Los Angeles investment firm Freeman Spogli & Co. said it will buy 127 food and convenience stores in New England from Supermarkets General Holdings Corp. for $300 million. Freeman Spogli said Supermarket General's Purity Supreme Stores unit is made up of 64 supermarkets in New England and a 63-store chain of Li'l Peach convenience stores in Massachusetts.
BUSINESS
April 23, 1987
The investor group making the $1.8-billion offer is led by a unit of Merrill Lynch & Co. and some senior executives of Supermarkets General, but does not include Supermarkets General's chairman and chief executive, Leonard Lieberman. Under terms of the agreement, the group would make a cash tender offer of $46.75 a share for up to 32.8 million, or 85%, of the Newark, N.J.-based company's 39.7 million total common shares and equivalents outstanding.
BUSINESS
April 23, 1987
The investor group making the $1.8-billion offer is led by a unit of Merrill Lynch & Co. and some senior executives of Supermarkets General, but does not include Supermarkets General's chairman and chief executive, Leonard Lieberman. Under terms of the agreement, the group would make a cash tender offer of $46.75 a share for up to 32.8 million, or 85%, of the Newark, N.J.-based company's 39.7 million total common shares and equivalents outstanding.
BUSINESS
April 11, 1989 | From Associated Press
Grand Union Co., a privately owned Northeast-based supermarket chain, will be acquired by a partnership of investment banks in a deal worth $1.2 billion, the buyers announced. The acquisition would mark the latest big supermarket takeover by Wall Street firms, which are attracted to the business because it is considered largely recession-proof and generates large quantities of cash. Over the past few years, for example, the investment firm Kohlberg Kravis Roberts & Co. acquired Safeway Stores Inc. for $4.2 billion and Stop & Shop Cos. for $1.2 billion.
BUSINESS
August 20, 1987 | Associated Press
Here is a chronology of significant events involving Landover-based Dart Group Corp.: - June, 1984. Dart Group sells 73 drugstores for $160 million to a group of managers and employees. Dart reports a $75-million after-tax profit on the sale. - Spring, 1985. May Department Stores Inc. arranges a real estate deal to block a Dart takeover bid. Dart sells its May stock for a $1.4-million profit. - Summer, 1985. Jack Eckerd Corp. sells several holdings to dissuade a Dart bid.
BUSINESS
October 13, 1988 | From the Washington Post
The Haft family of Washington, with one eye still on a possible merger with Kroger Co., now is seeking to buy $15 million of stock in Walgreen Co., the nation's largest drugstore operator. The Hafts' action is the latest in a series of forays against major retailing companies in recent years by the father-son team of Herbert and Robert Haft, who have gained a reputation on Wall Street as corporate raiders interested in profiting from the pursuit of companies rather than completing takeovers.
BUSINESS
July 8, 1987 | From Times Wire Services
Safeway Stores Inc. declined comment Tuesday on a published report that the Securities and Exchange Commission, as part of its insider trading investigation, has asked for details about attempts to take over the giant supermarket chain. Felicia del Campo, a spokeswoman for the supermarket chain, said Safeway would make no comment regarding the SEC probe, reported Tuesday in the Washington Post.
BUSINESS
March 26, 1987
Landover, Md.-based Dart Drug Corp. raised its $1.6-billion unsolicited takeover bid for Supermarkets General Corp. by $127 million, offering $45 per share for the nation's eighth-largest food chain. Leonard Lieberman, chairman of Supermarkets General, said the Woodbridge, N.J., chain "will seriously consider" the new offer. Dart owners Herbert Haft and his son Robert, who offered Supermarkets General shareholders $41.
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