NEWS WATCH

J. Sainsbury, London, last week agreed to buy 2 million shares of nonvoting Class A common stock of Giant Food, Landover, Md., from the estate of Israel Cohen, Giant's former chairman, president and chief executive, who died in November 1995. The deal would lift Sainsbury's stake in Giant's Class A nonvoting shares to 19.7% from 16.3%, a Giant spokesman said; Sainsbury already owns about 50% of Giant's

J. Sainsbury, London, last week agreed to buy 2 million shares of nonvoting Class A common stock of Giant Food, Landover, Md., from the estate of Israel Cohen, Giant's former chairman, president and chief executive, who died in November 1995. The deal would lift Sainsbury's stake in Giant's Class A nonvoting shares to 19.7% from 16.3%, a Giant spokesman said; Sainsbury already owns about 50% of Giant's Class AL voting stock. When Cohen died, he owned about 2.8 million shares of nonvoting Clas

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