(June 14) Midwest regional retail grocer Marsh Supermarkets Inc., Indianapolis, has confirmed it will pass up a competing acquisition bid for the company in favor of the original $11.125 per share cash offer from Sun Capital Partners Group IV LP, Boca Raton, Fla. While two investment firms together referred to as the "Cardinal Group" offered Marsh $13.625 per share in late May, Marsh announced June 12 that it has opposed the offer because of the deal's uncertainty and also because of the terms behind its May 2 agreement with Sun Capital.
Marsh Supermarkets tosses aside second offer
06/14/2006 12:00:00 AM
Ryan P. Kane