Hannaford parent company a rival bidder for Market Basket

[HomerRamone]

http://www.bostonglobe.com/business/2014/08/06/supermarket-company-emerges-market-basket-bidder/PfYgahsWrp6nv4hYNgg0OJ/story.html

"Looks to acquire part or all of chain; complicates quest by ousted Demoulas"

A supermarket company has emerged as a serious bidder for the Market Basket chain, complicating Arthur T. Demoulas’s effort to buy out rival family members and take complete control of the grocery empire, according to people briefed on the negotiations.

The Belgium-based parent of Hannaford Bros. Co. is offering to buy part or all of Market Basket, which competes with it in markets throughout New England, said these people, who were not authorized to speak publicly on the matter. A spokesman for Hannaford could not be reached for comment Thursday.

Under the current circumstances, Hannaford would at most be able to buy only a slim majority of the grocery chain — the 50.5 percent that is owned by Arthur S. Demoulas and his siblings — because Arthur T. has not offered to sell the 49.5 percent owned by his side of the family.

Market Basket’s board of directors has only said it is evaluating several offers. A spokesman for Hannaford could not be reached for comment last night.

The competition could make it more difficult for Arthur T. to regain control of the business, especially given his strained relationship with Arthur S. and other relatives who have rebuffed his efforts to reach a sale agreement and repair its operations.

[PoliticAverse]

1. People can be expected not to act fully rationally when involved in a family dispute... n/t

[Bonhomme Richard]

2. I knew the board had an exit strategy acting the way they have.

And.... owning 49% of anything is owning 49% of nothing if the opposition owns the majority.

[onethatcares]

3. from what I've read and heard

even if the new orleans saints purchased Market Basket and opened up tomorrow, the employees that have gone on protest would not return unless Arthur T is the CEO. Why can this board of directors not see this?

Any entity purchasing said supermarket would have to hire the same type of employee, one that was treated like family and really cared about their position in the company. Anything less, is just a board trying to squeeze the last drop of blood out of a dead dried up turnip.

The entire fiasco is based on respect for everyone involved in the store, not just the upper management making a ton of cash and saying fuck you to the employees when it comes to the entire pay package. (did that just make sense?)