Article: Fred Meyer in move to buy Grand Central.

Article from:
WWD
Article date:
April 16, 1984
Author:
Copyright

SALT LAKE CITY (FNS) -- Grand Central, operator of 30 self-service retail stores, will merge with Fred Meyer, the Portland, Ore.-based proprietor of one-stop shopping centers, under a definitive agreement signed by the companies Friday.

According to the agreement, FM Acquisition, a wholly owned subsidiary of the privately held Fred Meyer, will offer $11 a share in cash or $24-899,160 for all the 2,263,560 issued and outstanding Grand Central shares. This includes 556,115 shares Grand Central may issue, which Fred Meyer has an option to buy.

For the offer to take place, at least 1,246,382 or 55 percent of Grand Central's stock must be tendered and ...

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