OR WAIT 15 SECS
A&P and Pathmark merger near
The Great Atlantic & Pacific Tea Co., Montvale, N.J., has reportedly sold its 11.7 million shares of Canadian grocery chain Metro Inc., raising about $347 million to finance its acquisition of Pathmark Stores Inc., Carteret, N.J. A&P, which operates 410 stores, expects to complete the Pathmark purchase in early December. The Pathmark acquisition will give A&P a bigger presence in the Northeast. Pathmark has 127 pharmacies.