Shareholders in US regional retail group Pathmark have approved its proposed US$1.3bn takeover by US supermarket operator A&P at a special shareholders’ meeting.
The company said the merger was approved by 73.9% of the shares of Pathmark common stock outstanding, and by 99.9% of those shares voted by stockholders who attended the meeting.
A&P first announced is plans to take over Pathmark some nine months ago. Earlier this month, the retailer said it expected the deal, which has faced delays owing to anti-trust investigations by the Federal Trade Commission, would be completed in December.
Earlier this week, A&P said it plans to sell its stake in Canadian retailer Metro to help finance its takeover of Pathmark.
New Jersey-based Pathmark operates 140 supermarkets, principally in the New York, New Jersey and Philadelphia areas.
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