UBS LOOKS TO REDO GRAND UNION'S BOARD

WAYNE, N.J. -- A Swiss-based financial institution that provided some of the money that helped Grand Union Co. here emerge from bankruptcy last year is now looking to reconfigure the supermarket company's board of directors with a goal of having the company pursue a merger or sale more aggressively.UBS AG, Zurich, Switzerland, which owns 8.1% of Grand Union stock, has filed a Schedule 13D with the

WAYNE, N.J. -- A Swiss-based financial institution that provided some of the money that helped Grand Union Co. here emerge from bankruptcy last year is now looking to reconfigure the supermarket company's board of directors with a goal of having the company pursue a merger or sale more aggressively.

UBS AG, Zurich, Switzerland, which owns 8.1% of Grand Union stock, has filed a Schedule 13D with the Securities and Exchange Commission that says the Swiss bank is seeking consent agreemen

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