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Strategies & Market Trends : LastShadow's Position Trading

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To: AlienTech who wrote (21753)	9/17/1999 3:23:00 AM
From: Jeffrey Lee	Read Replies (1) of 43080

Safeway, Wal-Mart may seek to buy Rite Aid-report Thursday September 16, 8:22 pm Eastern Time biz.yahoo.com NEW YORK, Sept 16 (Reuters) - Safeway Inc. (NYSE:SWY - news) and Wal-Mart Stores Inc. (NYSE:WMT - news) may be in buyout talks with Rite Aid Corp. (NYSE:RAD - news), according to BusinessWeek. Citing a rumor, BusinessWeek magazine columnist Gene Marcial said on Thursday that Rite Aid may be a target of the two retail chains. The deal could come before the company's scheduled Sept. 22 meeting with analysts, according to some unnamed financial sources. Rite Aid, which put off an August analysts meeting and said it was in talks about corporate deals, has seen its stock drop and is ``vulnerable,' according to an unnamed California money manager in the report. The report, which appeared in the Sept. 27 issue of the magazine, also said Rite Aid may sell some of its 300 large stores on the U.S. West coast. Rite Aid's meeting with analysts has been pushed back to Sept. 22 from Sept. 2.

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