Revco bid for Big B would move firm into three new states, add 387 more stores.
This article was originally published in The Rose Sheet
Executive Summary
REVCO BID FOR BIG B WOULD ALLOW EXPANSION TO ALABAMA, FLORIDA AND MISSISSIPPI by Twinsburg, Ohio-based Rev-co. The company's Sept. 9 hostile bid for Bessemer, Ala.-based Big B would add 387 stores and three states to Revco's existing base of 2,184 stores in 14 contiguous states. Big B has advised shareholders not to act on the offer until it formally responds; the deadline for a response is Sept. 24. Revco has set an Oct. 7 closing date for the tender offer.