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The Great Atlantic & Pacific Tea Co....

The Great Atlantic & Pacific Tea Co. withdrew its $210-million, or $30-a-share, tender offer for Delchamps Inc. a day after Delchamps directors rejected as inadequate a $32-a-share proposal for a friendly merger. Montvale, N.J.-based A&P; launched its first attempt for the Mobile, Ala.-based supermarket chain two years ago at $23 a share but was rejected. A year later, A&P; came back with a $27-a-share and again was rebuffed. A&P; Chairman James Wood had called the sweetened proposal a “final” offer.


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