Asher Edelman renewed his bid for Lucky Stores.
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The invester is still proposing to acquire Lucky for $37 a share, or $1.88 billion. Two previous offers from Edelman were rejected as inadequate by the supermarket chain and so was his new offer. In a letter to Lucky’s directors, Edelman argued that the restructuring proposals Lucky had decided to pursue instead of Edelman’s offer were not in the best interests of Lucky’s stockholders.
