Seagram sale of Tropicana may be private

Article Abstract:

Seagram Co. is taking bids from private buyers for its Tropicana Products Inc. subsidiary after poor market response to last month's announcement of an initial public offering (IPO) of 95.1% of Tropicana. Goldman, Sachs & Co. is representing Seagram in negotiations for Tropicana, which had $1.9 billion in sales and $81 million net income in 1997. The private sale is expected to net less than $3 billion compared to anticipated revenues of about $3.57 billion that had been expected from the scrapped IPO. But the private sale will allow Seagram to raise funds quickly and avoid the volatile IPO market environment.

Comment:

Seagram Corp. is taking bids for its subsidiary, Tropicana Products Inc., from private buyers

Canned Fruit Juices, Fruit and Vegetable Canning, Canned juices, Seagram Corp., Tropicana Products Inc.

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American Stores: Next on supermarket shopping list?

Article Abstract:

Third largest US supermarket chain, American Stores, may be available for purchase, though the company will not comment publicly. First quarter earnings were reported and net income was $65.9 million. The company has annual sales of $19 billion. Possible acquirers include Fred Meyer Inc., Portland; Albertsons Inc., Boise; and Kroger Co., Cincinnati. American, Salt Lake City-based, has 1,558 stores in 27 states. Analysts expect there would be antitrust investigation unless the company were split up, possibly into foods and drugs, possibly geographically.

Comment:

There is speculation that the chain may be about to be bought, but the company will not comment publicly

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Albertson's plans to buy American Stores

Article Abstract:

Albertson's Inc., based in Boise, Idaho has decided to acquire rival American Stores Co. for about $8.4 bil in stock. Rumors have been circulating for months of the possible take over of American Stores Co., as the company has not been doing well of late. As a result of the news, both Albertson's Inc and American Stores Co. showed a stock value increase. The move pushes Albertson's Inc. ahead of their closest competitor, Kroger Co.

Comment:

Albertson's Inc. auquires American Stores for $8.4 bil in stock

Acquisitions & mergers, Albertson's L.L.C.

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