SALT LAKE CITY -- Smith's Food & Drug Centers here completed its recapitalization and merger plan last week. The merger, approved by Smith's shareholders at last week's annual meeting here, involves the issuance of Smith's stock to current shareholders of Smitty's Supermarkets, Phoenix, whose major shareholder is Yucaipa Cos., a Los Angeles investment firm. Smitty's will become a part of Smith's, giving Yucaipa an ownership and management position in Smith's.
The recapitalization, ...
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