MERGER DEAL IS REACHED BY SMITH'S AND SMITTY'S

PHOENIX -- The Smitty's banner has been a fixture in Arizona for 35 years, but it's expected to disappear when the deal that was struck last week between Smitty's Supermarkets here and Smith's Food & Drug Centers, Salt Lake City, closes.That's just one of the outcomes expected when the merger agreement goes into effect about May 1. The deal is valued at $240 million to $250 million, including Smitty's

PHOENIX -- The Smitty's banner has been a fixture in Arizona for 35 years, but it's expected to disappear when the deal that was struck last week between Smitty's Supermarkets here and Smith's Food & Drug Centers, Salt Lake City, closes.

That's just one of the outcomes expected when the merger agreement goes into effect about May 1. The deal is valued at $240 million to $250 million, including Smitty's debt. Smith's also plans a tender offer for 50% of its outstanding common. The

Register to view the full article

test - Advanced Registered User

Already a member? .