rod antolock net worth

Buffalo Creek Casino Login, J.P. Morgan suggested to Kroger that, with additional access to management and due diligence, Kroger would be able to offer a higher value. Actually, B. The cause of the fire is as yet undetermined. Canned goods are also limited to four per variety. Green & Co., owner of three supermarkets, two cash & carries and a sizeable redistribution business, has signed a new supply contract with the wholesaler. Harris Teeter Supermarkets, Inc. is an American supermarket chain based in Matthews, North Carolina, a suburb of Charlotte.As of January 2021, the chain operates 260 stores in seven South Atlantic states (North Carolina, South Carolina, Virginia, Georgia, Florida, Delaware, Maryland) and the District of Columbia. The terms used in this paragraph are defined as follows: (a) “LTM” means last twelve months; (b) “EBITDA” means earnings before interest, taxes, depreciation and amortization; (c) “adjusted debt” means total debt plus rent expense capitalized at 8.0x (per Moody’s methodology); (d) “EBITDAR” means earnings before interest, taxes, depreciation, amortization and rent expense and (e) “run-rate synergies” means total annual synergies expected upon completing the integration of the two entities. At the meeting, J.P. Morgan representatives provided an update on the process, including a report on the preliminary nonbinding indications of interest received from Kroger and Party P, which were the only two parties actively engaged in the process at that time. On June 21, 2013, following receipt of a preliminary nonbinding indication of interest, J.P. Morgan spoke with Party P’s financial advisor to clarify Party P’s proposal. During the period beginning November 21, 2012 and ending December 3, 2012, J.P. Morgan contacted eleven additional potential purchasers, each of which had demonstrated expertise in food retail and the financial capacity to consummate an acquisition of, or combination with, Harris Teeter. The proposal anticipated the completion of due diligence and negotiation of definitive agreements within two to three weeks. The indication of interest was subject to several conditions, including satisfactory completion of due diligence, negotiation of a mutually satisfactory definitive agreement and regulatory approval (including antitrust regulatory approval). On June 19, 2013, BofA Merrill Lynch informed J.P. Morgan that Kroger had revised its proposal from a range of $45.50 to $47.50 per share to a single point proposal of $47.50 per share. Following discussions with Harris Teeter, J.P. Morgan responded to Kroger on April 18, 2013, indicating that it was unlikely that Harris Teeter would entertain a transaction at the indicated range or be prepared to bear any regulatory or antitrust approval risk. Representatives from Party L as well as representatives from Party L’s financial advisor met with Harris Teeter management in New York on March 14, 2013. Here’s the phone number, go pick up a case.” A case? J.P. Morgan requested that Kroger deliver a revised preliminary nonbinding indication of interest by June 20, 2013. On April 15, 2013, Party P submitted a preliminary nonbinding indication of interest to combine the Party P Portfolio Company with Harris Teeter in a transaction in which the Harris Teeter shareholders would receive a total cash consideration of $2 billion, or $40 per share in cash, together with what Party P described as “a significant publicly traded minority stake in the combined entity.” The indication of interest submitted by Party P was subject to negotiation of a definitive merger agreement, obtaining debt financing, the confirmation of certain material assumptions, due diligence review and regulatory approvals. At Ingles Markets your family and our associate’s health is a top priority. As for Roland Smith, clearly the changing of the guard at parent company Delhaize Group (and subsequent loss of control of day-to-day U.S. operations) was the probable cause of his exit. Representatives of both McGuireWoods and J.P. Morgan attended the meeting. On November 15, 2012, the Harris Teeter Board discussed J.P. Morgan’s extensive advisory and transaction experience in the retail sector, and in the food retail industry in particular. Wegmans will open its 82nd unit on September 15 in Germantown, MD. Harris Teeter, following discussions with its financial and legal advisors and members of the Harris Teeter Board, determined that it was not in the best interest of its shareholders to suspend the process for the purpose of allowing Party B, which had not yet conducted any due diligence, to determine whether it was interested in pursuing a transaction. A fascinating sidebar to the story is the recounting of how the whole sales undertaking started (read the filing at the end of this column). Our members deserve all the credit for this strong contract, because their solidarity and activism is what made everything possible.” The union commented that bargaining was challenging and protracted, largely because Obama administration regulations covering implementation of the Affordable Care Act deny Taft-Hartley Funds any of the benefits of the new law while imposing major new burdens. In addition, J.P. Morgan reviewed the proposal from Party P in detail with the Harris Teeter Board. Over the course of the next two weeks, management and J.P. Morgan worked together to develop a list of additional potential purchasers. The former Super Fresh and Pathmark  (A&P) location has been expanded to 73,000 square feet and will be the second ShopRite operated by the company along the U.S. Route 40 corridor…another former  Tea Company unit (Pathmark) that recently reopened under a new banner was Weis’ 55,200 square foot Hillsborough, NJ unit which has been totally refurbished and looks great. Filing Date: July 08, 2004: File Number: 0733710: View People Named Rod Antolock in North Carolina The Harris Teeter Board authorized J.P. Morgan to contact each party. Matthews, NC 28105 Phone: (704)844-3100 Website: With a strong real estate base now under its control and knowledgeable grocery leaders to streamline the “process,” Supervalu, with its increased share price and fixed supermarket assets and New Albertsons (Acme, Shaw’s, Jewel and two West Coast Albertsons divisions) with even a stronger real estate portfolio, have already achieved success for their financial partner…more Virginia news: Martin’s (Giant/Carlisle) will close its older and smallish Gayton Crossing unit in Richmond next month. Between the August 16, 2012 Board meeting and the regular quarterly Harris Teeter Board meeting held on November 15, 2012, Harris Teeter’s management discussed with J.P. Morgan its potential engagement as financial advisor to Harris Teeter in connection with (a) evaluating the merits of a potential sale, merger, joint venture and/or other business combination and (b) comparing the merits of such a transaction to the prospects of Harris Teeter as a standalone public company. Pillpack Amazon Jobs, And while the trimming of the executive team and the brand “repositioning” of Food Lion has helped same store revenue and earnings, there’s so much more that’s needed to restore most of the Delhaize America store fleet back to sea level. Lunds & Byerlys Senior Hours—The opening hour of 7-8 a.m. is reserved for shoppers at higher risk of the coronavirus, including older adults and those with compromised immune systems. Delhaize America recently acknowledged that BDF has trimmed its losses, but is still unprofitable…the ageless Bernie Kenny and his team at Delaware Supermarkets opened their sixth ShopRite August 25 in Glasgow, DE. I’ve probably gotten about 50 phone calls and emails about this story, but one person I’m certain I won’t be hearing from is Rick. On June 21, 2013, Harris Teeter received Kroger’s revised preliminary nonbinding indication of interest. Main: 704-758-1000 Customer Service: 1 (800) 445-6937 Toll Free: 1 (877) 465-6937. Sumrith Thanakarnjanasuth Net Worth, The benefits were: (a) the increase in cash consideration offered from $2 billion to $2.08 billion, (b) the election mechanism afforded to Harris Teeter shareholders by which they could choose the form of consideration they receive, (c) the significant ownership percentage of the combined entity that would be afforded to Harris Teeter shareholders (30 percent of the combined company), (d) the improved financing structure as well as the draft commitment papers from two global financial institutions, (e) the significant detailed synergy work that had been completed by both parties and (f) the meaningful upside opportunity coming from the underperforming Party P Portfolio Company stores. The intelligence you need to compete. In a separate August 2 SEC filing, Harris Teeter detailed the background of the process. Rod Antolock. On May 6 and 7, 2013, members of Harris Teeter management met with, made presentations to and participated in meetings with representatives of Kroger and BofA Merrill Lynch regarding Harris Teeter’s business operations. Fortunately, nobody was hurt at the depot which was built in 2007 and employs 130 people, all of whom have all been moved to other D&W facilities, primarily to the main plant on Tacony Street in Philadelphia. On April 2, 2013, Kroger informed J.P. Morgan that it had engaged Merrill Lynch, Pierce, Fenner & Smith Incorporated (‘BofA Merrill Lynch’) as its financial advisor. For Party P, J.P. Morgan indicated that the next steps in the process included completion of business due diligence, commencement of Harris Teeter reverse due diligence on the Party P Portfolio Company, conducting a detailed review of the synergy opportunity, obtaining a revised indication of value with clarification and quantification of the percentage ownership and implied immediate trading value of the “significant publicly traded minority stake in the combined entity”, and developing a refined view of the pro forma capital structure. The Harris Teeter Board expressed the same concerns regarding the Party P proposal that had been discussed at the June 24, 2013 meeting, summarized as the uncertain value of the equity component of the proposal, significant execution risks and a lengthy period to execute. The cash portion of the consideration would be $2 billion or $40 per share. You must be how much is winx worth now to post a comment. Somewhere Down The Crazy River Lyrics, Categories. McCarthy, who began his career with First National Supermarkets in the late 1940s (that’s where I first met him), spent 30 years at that now-defunct chain, rising to the position of senior VP. Conversely, the loss of The Fresh Grocer is a big hit for Supervalu’s Eastern Region, which will lose its second largest independent banner. Information regarding Harris Teeter was distributed to each of these three prospective buyers. On June 25, 2013, J.P. Morgan also called BofA Merrill Lynch, during which J.P. Morgan communicated that Kroger was behind a competing bidder on value and J.P. Morgan believed it was unlikely that the Harris Teeter Board would approve the transaction at the value indicated by Kroger’s most recent proposal. Major Employers The company’s manufacturing plant in Baltimore and its Greenville, SC warehouse are being used as satellite distribution centers. Next year, Martin’s will open its first new Richmond area store since it acquired Ukrop’s in 2010 in Midlothian (the 74,000 square-foot unit will serve as a replacement for its in the Sycamore Square Shopping Center store that opened in 1975)…Dollar Tree, the fastest-growing dollar store retailer in the country, announced that it will add freezers and refrigerated units to 550 of its stores over the next 12 months, which will give the Chesapeake based discounter more than 3,400 of its nearly 5,000 units, enabling them to be equipped for perishables. Both stores will open in the next 18 months to go along with five other Tar Heel state units currently under construction in Charlotte (three locations  – Ballantyne, Iverson Way and Matthews Mint Hill Road), Cary and Asheville. The two newest locations that were announced last month will each be 49,000 square feet in size. Despite four separate lawsuits contesting the deal (a frivolous, but usually common endeavor with these types of transactions), I’ll be shocked if the acquisition is not strongly approved by Teeter’s shareholders. The primary risks discussed with the Harris Teeter Board related to the speed and lack of certainty of closing and the uncertain valuation of the equity in the combined company. “At an industry meeting that occurred in April 2011, the President of Party A (a supermarket chain) approached Mr. Morganthall, the president of Harris Teeter, to make an informal inquiry as to whether Harris Teeter would be interested in discussing a combination with Party A. Harris Teeter, Inc Corporate Office | Headquarters Avarage Rating: 701 Crestdale Rd. On May 20, 2013, J.P. Morgan provided the requested information to BofA Merrill Lynch. On June 21, 2013, Harris Teeter provided Kroger and Party P with a draft of the disclosure schedules to the merger agreement. Additionally, J.P. Morgan examined the financial results of 11 high-profile publicly-traded retailers as a comparison to HT’s performance. Ask yourself this questions objectively: given the convenience of its locations and the recent pricing and merchandising upgrades, is there a significantly more compelling reason to make Food Lion your primary shopping destination today than there was 18 months ago? Unfortunately by the mid-1980s, the once popular brew was almost impossible to find. Rod Antolock. Representatives of J.P. Morgan reviewed the history of the transaction, discussed with the Harris Teeter Board its financial analysis of the offer made by Kroger and answered all of the Harris Teeter Board’s questions. ROD ANTOLOCK (MANAGER) PERFORMANCE ROAD PROPERTIES LLC: NORTH CAROLINA LIMITED-LIABILITY COMPANY: WRITE REVIEW: Address: 301 South Tryon Street, Suite 1800 Charlotte, NC 28202: Registered Agent: Yacenda, Douglas J. During the course of the meeting, J.P. Morgan reported that a call had been received from BofA Merrill Lynch, who reported that the Kroger Board of Directors had approved the merger agreement pursuant to which the holders of Harris Teeter common stock would receive $49.38 per share in cash.

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