A&P Closes Pathmark Deal

MONTVALE, N.J. — A&P here on Monday said it has completed its purchase of rival Pathmark, creating a 450-store, $9.4 billion chain with market share leadership in the Northeast. Pathmark shareholders received $9 in cash and 0.13 shares of A&P for each share in Pathmark, making the deal worth around $1.4 billion in cash, stock and assumed debt. A&P said it would retain the Pathmark name and store network, as well as 125 corporate associates and all of its store personnel. The companies are targeting $150 million in savings over the next 18-24 months.

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