FOOD LION, Salisbury, N.C., said last week it plans an offering of up to $300 million in debt securities later this month, with the proceeds earmarked to retire certain other indebtedness. The company said the securities would also extend the average maturity of the company's outstanding debt from two years to 12 years.
sers of Fleming common stock between March 1995 and March 1996, charged the company and its president, Robert E. Stauth, with misrepresenting or omitting material information concerning the lawsuit against the company by David's Supermarkets, Grandview, Texas. Fleming reached a $19.9 million out-of-court settlement in that case late last month.
PROCTER & GAMBLE last week announced plans to buy Tambrands, maker of Tampax tampons, for $1.85 billion, or $50 a share, in P&G's largest acquisition ever. However, the proposed acquisition of Tambrands is likely to attract the scrutiny of government regulatory agencies because it could give P&G too much control over the feminine-hygiene market, some observers say.
STEW LEONARD JR. said he is considering opening a new, $25 million dairy store in West Haven, Conn., or Yonkers, N.Y. Leonard had hoped to build the store on a 50-acre plot he owns in Orange, Conn. But the zoning board there rejected his plan after some residents complained about potential traffic problems.
HOUSE SPEAKER NEWT GINGRICH pledged to push for a tax cut "as big as possible" that included capital gains and estate taxes. The estate tax has been targeted by the grocery industry for repeal or reduction on the grounds that it destroys family-owned businesses when the principal dies.