USA: Ahold Successfully Completes Tender Offer for U.S. Foodservice
Royal Ahold, the international food provider, and U.S. Foodservice, America's second-largest broadline foodservice distributor, today announced the successful completion of Ahold's tender offer for all outstanding shares of common stock of U.S. Foodservice.Based on preliminary information provided by the depositary, a total of 100,400,644.68 shares of common stock were validly tendered. This total represents approximately 97.4% of the 103,091,686.49 outstanding shares of common stock. Ahold will accept these shares for payment on Tuesday, April 11, 2000. This share amount includes 11,545,654 shares subject to guarantees of delivery. Ahold's tender offer for U.S. Foodservice, which commenced on March 13, 2000, expired at 12:00 midnight on April 7, 2000.Ahold intends to make prompt payment for the shares of common stock validly tendered pursuant to the tender offer. The company will then merge its wholly-owned acquisition subsidiary into U.S. Foodservice, resulting in U.S. Foodservice becoming a wholly-owned subsidiary of Ahold USA. The merger is expected to close no later than April 12, 2000. As a result of this transaction, Ahold USA will become a USD 30 billion multi-channel food provider servicing over 20 million US households every week through its solid store network, institutional operations and the internet.
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