One World Supermarket
What better way to feed a population ruled by One World Government?
Great Atlantic & Pacific Tea Co. [a.k.a., A&P] said on Monday that it plans to buy rival grocer Pathmark Stores Inc. for $678.6 million, creating a larger company to compete in the U.S. Northeast.The deal, which the companies had signaled in late February, will create a 550-store, $11 billion supermarket chain operating in the New York, New Jersey and Philadelphia areas, as well as in Maryland, Michigan and Louisiana. Pathmark shareholders will receive $9 in cash and 0.12963 shares of A&P stock for each Pathmark share. Based on Friday's closing stock price, the deal is worth $469.8 million in cash and $208.8 million in stock, plus the assumption of debt. Including assumed debt, the deal is worth $1.3 billion, the companies said.
Industry watchers had suggested a merger of the two New Jersey-based grocers for several months, and A&P had hinted that it was searching for a deal.
As far back as last May, A&P Executive Chairman Christian Haub said his company's improved performance could present the opportunity to participate "in the expected consolidation" of the grocery industry. At that time, Haub referred to what he saw as the "inevitable" rationalization of the grocery industry in the Northeast.
Pathmark had been rumored as a possible target or merger candidate for years. In 2005, Yucaipa Cos., a private equity firm owned by billionaire grocery magnate Ronald Burkle, took a stake in Pathmark.
MONEY CHANGERS OWN EVERYTHING.
A&P's 410 stores include the A&P, Waldbaum's and Food Emporium chains. Pathmark operates its 141 namesake stores in New York, New Jersey and Pennsylvania.
Under the terms of the deal, Tengelmann Group, A&P's majority shareholder, will be the largest single shareholder of the combined entity.
Can you imagine the food supply of the entire North East held hostage by one shareholder?
First the North East, then the World.
What a catastrophe.
I assure you - Americans are anything but 'FREE.'
Soylent Green - the movie made in 1973. Actually, not just this article but everything that is going on in the world now reminds me of that movie. If you don't know of it, check out the plot outline here: http://us.imdb.com/title/tt0070723/