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Technology Stocks : Peapod (PPOD)

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To: Moominoid who wrote (1163)	7/16/2001 6:13:08 PM
From: Glenn Petersen	Read Replies (1) of 1170

PPOD fares better than WBVN: news.cnet.com Dutch grocer looks to get cozier with Peapod By Reuters July 16, 2001, 8:20 a.m. PT NEW YORK--Dutch supermarkets group Koninklijke Ahold said Monday it will launch a tender offer for the remaining outstanding 42 percent of its Internet grocery unit Peapod. Ahold said it would offer $2.15 per share, a 72 percent premium on Peapod's Friday closing price of $1.25 on the Nasdaq. The company said the $35 million transaction is to be followed by a merger of Peapod with a subsidiary of Ahold. Ahold holds a 58 percent stake in Peapod. The acquisition is expected to have an almost neutral impact on Ahold's earnings per share in 2001, the company said. The tender offer is expected to be completed in the third quarter of 2001, after which Ahold will acquire all remaining publicly held shares of Peapod through a merger transaction at the same price per share, and Peapod will be delisted from the Nasdaq. On Friday, Peapod competitor Webvan Group and three affiliates filed for Chapter 11 bankruptcy protection and ceased operations. Story Copyright © 2001 Reuters Limited. All rights reserved.

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