A&P stock rises on news of sale
A&P stock rises on news of sale
The Great Atlantic & Pacific Tea Co., the owner of A&P supermarkets, hired JPMorgan Chase & Co. to find a buyer for its Canadian grocery-store business, a sale that could raise more than $1 billion.
This announcement, combined with its latest financial results and a planned major restructuring, led to sharply higher stock prices the week of May 9-13.
A&P plans to sell A&P Canada, divest itself of its Midwest operations, and concentrate on its core operations in the broad corridor from Connecticut to Washington, DC.
This announcement, combined with its latest financial results and a planned major restructuring, led to sharply higher stock prices the week of May 9-13.
A&P plans to sell A&P Canada, divest itself of its Midwest operations, and concentrate on its core operations in the broad corridor from Connecticut to Washington, DC.