logo
Share SHARE
FONT-SIZE Plus   Neg

U.S FTC Approves SUPERVALU's Acquisition Of Unified Grocers

SUPERVALU INC. (SVU) and Unified Grocers Inc. said that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to SUPERVALU's proposed acquisition of Unified Grocers.

The early termination of the waiting period under the HSR Act satisfies a closing condition for the transaction. The transaction is also subject to approval by Unified Grocers' shareholders.

Unified Grocers has set June 22, 2017 for its shareholder meeting. The acquisition is currently expected to close in late June, and remains subject to other customary closing conditions.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Sobeys Inc. is cutting 800 jobs across Canada as part of the grocery store chain's efforts to cut costs and streamline its organization. Sobeys is Canada's second-largest grocery chain behind Loblaw Companies Ltd. The job cuts come as Sobeys, like others in the industry, grapple with stiff competition from rivals, higher costs and technological change. This year's holiday shopping season has got off to a strong start. Online shoppers spent $1.52 billion on Thanksgiving Day, with smartphones accounting for 46 percent of all traffic to U.S. retail websites, according to Adobe Analytics data. The $1.52 billion in online spend by Thanksgiving evening represents 16.8 percent growth from last year, according to the data. Shares of thyssenKrupp AG were gaining around 2 percent in the morning trading in Germany after the steel giant Thursday said it expects clearly positive net income and significantly higher adjusted EBIT, a key earnings metric, in fiscal 2018. This was after reporting higher adjusted EBIT, sales and order intake in its fiscal 2017, despite a net loss due to charges.
comments powered by Disqus
Follow RTT