The Great Atlantic & Pacific Tea Company (A&P) has completed its acquisition of Pathmark Stores for $1.4 billion in cash, stock and assumed or retired debt. In the transaction, Pathmark shareholders
received $9.00 in cash and 0.12963 shares of A&P stock for each Pathmark share.
The merger forms a chain of approximately 450 stores with $9.4 billion in annual sales volume--with
leading market share in the New York metropolitan area, the nation's largest consumer market, as well as significantly increased market share in greater Philadelphia and Baltimore.
--Nina M. Lentini