DART GROUP RAISES SUPERMARKETS GENERAL <SGL> BID
<Dart Group Corp> said it has
raised its offer to acquire Supermarkets General Corp to 42.00
dlrs in cash and three dlrs in exchangeable preferred stock per
Supermarkets General share from 41.75 dlrs per share in cash.
    The company said it would also be willing to negotiate a
plan with the Supermarkets General board under which
Supermarkets General shareholders would have a common stock
interest in the combined company.  It said it remains willing
to negotiate all terms of the proposed acquisition.
    The original bid was worth about 1.62 billion dlrs.
    Dart said the preferred stock in the new bid would be
exchangeable for a new class of Supermarkets General debt
securities that would be developed by Dart and Supermarkets.
    The new proposal would be subject to approval by the
Supermarkets General board, it said.  The new bid was contained
in a letter to the Supermarkets General board.
    In Woodbridge, N.J., Supermarkets General -- responding to
a previous letter to its board by Dart -- said "Your conduct
indicates to us that no transaction involving trust and
confidence can be entered into with you.  Your propaganda and
missstatements will not panic our board."
    Dart, in its previous letter, had alleged that Supermarkets
General executives were seeking millions of dollar in severance
and tax payments from Dart.
 Reuter
