Total Logistics (NASDAQ:TLCX)
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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/