Pathmark, A&P agree to waiting period

MONTVALE, N.J. The Great Atlantic & Pacific Tea Company announced that on July 13 both A&P and Pathmark Stores submitted certifications of substantial compliance with the Federal Trade Commission in response to the Requests for Additional Information and Documentary Materials received in connection with A&P's proposed acquisition of Pathmark.

As previously disclosed, both Tengelmann (A&P's majority shareholder) and Pathmark received Second Requests from the FTC on April 18, and subsequently entered into a timing agreement with the FTC. The issuance of the Second Requests effectively extended the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, during which A&P and Pathmark may not consummate the proposed acquisition. Under the timing agreement, A&P and Pathmark have agreed, subject to certain conditions, that they will not consummate A&P's acquisition of Pathmark for at least 60 days following the date that A&P and Pathmark substantially comply with the Second Requests.