Grocers brace for a food fight

Article Abstract:

Canada's major grocery chains are gearing for a consolidation. The trend, which began in Europe and was later replicated in the US, became apparent when Empire Co. Ltd, the operator of the Sobeys chain of grocery stores in Eastern Canada, offered C$1.4 billion for the acquisition of Oshawa Group Ltd. of Toronto, Ontario, in October 1998. This was followed by Loblow Cos.' announcement on Oct. 30, 1998, of an agreement to purchase Montreal, Quebec-based Provigo Inc. for C$15 per share, a deal valued at C$1.6 billion.

Comment:

Canada: The country's major grocery chains are gearing for a consolidation

Canada, Grocery Stores, Supermarkets and Other Grocery (except Convenience) Stores, Article

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SEC reviewing debt repurchase by Safety-Kleen

Article Abstract:

Safety-Kleen Corp, a waste recycling firm based in Columbia, SC, reported that the US Securities and Exchange Commission has informed the firm it intends to review the firm's intent to repurchase its outstanding $350- million subordinated convertible debenture, known as payment-in-king (PIK) debenture. Burlington, Ontario-based Laidlaw Inc, which owns 49% of Safety-Kleen, purchased the note in 1997 during a reverse takeover of a predecessor firm.

United States, Government regulation (cont), Waste Collection, Refuse Systems, Safety-Kleen Corp.

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