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CARTERET, N.J. -- Investor Ron Burkle disclosed in a Securities and Exchange Commission filing yesterday he may seek potential strategic transactions for Pathmark Stores Inc. here.
In a Schedule 13D filed with the SEC, Burkle, whose investment firm, Yuciapa Cos., based on Los Angeles, earlier this year acquired a controlling stake in Pathmark, said, "there are significant opportunities in the supermarket industry in the Northeast, and that the [Pathmark's] locations, store volumes, employees and customer base make the company's business a key asset in this market, and a viable platform for future consolidation."
Burkle slso said his various investment entities under the Yucaipa umbrella "have had … [and] may continue to engage in, discussions which may result in negotiations regarding potential strategic transactions involving the company and other supermarket and retail companies," including, potentially, "one or more mergers, consolidations, sales or acquisitions of assets."
Dow Jones noted in a report on the filing that some shareholders had filed a lawsuit charging Pathmark with failing to disclose a more lucrative buyout offer than Burkle's $150 million deal.