YUCAIPA COS. SEEN LOWERING MERGER CONSENT THRESHOLD

LOS ANGELES -- To facilitate the merger of Food 4 Less Supermarkets and Ralphs Grocery Co., Yucaipa Cos. here has agreed to accept consents from only 50% of its bondholders rather than 80%, according to sources close to the deal.the holders of $450 million worth of Ralphs' bonds must exchange their securities for notes in the new company, and the holders of $320 million worth of Food 4 Less bonds

LOS ANGELES -- To facilitate the merger of Food 4 Less Supermarkets and Ralphs Grocery Co., Yucaipa Cos. here has agreed to accept consents from only 50% of its bondholders rather than 80%, according to sources close to the deal.

the holders of $450 million worth of Ralphs' bonds must exchange their securities for notes in the new company, and the holders of $320 million worth of Food 4 Less bonds must consent to changes in their covenants that will allow them to trade their holdings

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