SUPERVALU's Offer for Total Logistics Clears U.S. Regulatory Review Waiting Period
26 Januar 2005 - 3:30PM
PR Newswire (US)
SUPERVALU's Offer for Total Logistics Clears U.S. Regulatory Review
Waiting Period MINNEAPOLIS, Jan. 26 /PRNewswire-FirstCall/ --
SUPERVALU INC. (NYSE:SVU) today announced that at 11:59 p.m. EST on
January 25, 2005, the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended (HSR Act), expired
with respect to SUPERVALU's tender offer to purchase shares of
Total Logistics, Inc. (NASDAQ:TLCX) common stock, for $28.50 per
share. All necessary waiting periods under the HSR Act have now
expired. The tender offer continues to be subject to other
conditions set forth in the tender offer statement and related
offering materials. The tender offer will expire at 12:00 midnight
EST, February 4, 2005, unless extended. As previously announced,
the board of directors of Total Logistics, Inc. has unanimously
approved the merger agreement and recommends that Total Logistics
shareholders accept the offer and tender their shares. This
announcement is neither an offer to purchase nor a solicitation of
an offer to sell shares of Total Logistics, Inc. On January 7,
2005, SUPERVALU filed a tender offer statement with the Securities
and Exchange Commission (SEC) and Total Logistics filed a
solicitation/recommendation statement with respect to the offer.
Total Logistics shareholders are advised to read the tender offer
statement, as amended to date, regarding the acquisition of Total
Logistics referenced in this news release, and the related
solicitation/recommendation statement, as amended to date. The
tender offer statement, as amended to date, and the
solicitation/recommendation statement, as amended to date, contain
important information which should be read carefully before any
decision is made with respect the offer. These documents have been
made available to all shareholders of Total Logistics at no expense
to them. Total Logistics shareholders can also obtain the offer to
purchase and related materials free at the SEC's Web site at
http://www.sec.gov/ or by contacting Innisfree M&A
Incorporated, the information agent for the offer, by telephone at
1-877-825-8971 (toll-free). About SUPERVALU INC. Celebrating its
135th year of fresh thinking, SUPERVALU INC., a Fortune 100
company, is one of the largest companies in the United States
grocery channel. With annual revenues of approximately $20 billion,
SUPERVALU holds leading market share positions across the U.S. with
its more than 1,500 retail grocery locations, including licensed
Save-A-Lot locations. With its Save-A- Lot format, the company
holds the number one market position in the extreme value grocery
retail sector. Through SUPERVALU's geographically diverse
distribution network, the company provides distribution and related
logistics support services to nearly 4,500 grocery retailers across
the nation. In addition, SUPERVALU's third-party logistics business
provides end-to-end supply chain management solutions that deliver
value for manufacturers, consumer products retailers and food
service customers. SUPERVALU currently has more than 55,000
employees. For more information about SUPERVALU visit
http://www.supervalu.com/ . DATASOURCE: SUPERVALU INC. CONTACT:
Media, Lynne High, +1-952-828-4515, , or Investors, Yolanda
Scharton, +1-952-828 4540, , both of SUPERVALU INC. Web site:
http://www.supervalu.com/
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