J. SAINSBURY SEEKS APPROVAL FOR STAR MARKETS ACQUISITION

LONDON (FNS) -- J. Sainsbury here said it expects to receive U.S. Federal Trade Commission approval of its $490 million acquisition of Star Markets Co., by late June.Sainsbury's owns Shaw's Supermarkets, East Bridgewater, Mass. It announced in late November that it was buying Star Markets to boost its operations in the New England area.The timetable for F.T.C. approval was revealed as Sainsbury's

LONDON (FNS) -- J. Sainsbury here said it expects to receive U.S. Federal Trade Commission approval of its $490 million acquisition of Star Markets Co., by late June.

Sainsbury's owns Shaw's Supermarkets, East Bridgewater, Mass. It announced in late November that it was buying Star Markets to boost its operations in the New England area.

The timetable for F.T.C. approval was revealed as Sainsbury's reported that Shaw's had a 37.7% increase in operating profits to $85.1 million

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