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Agreement and Plan of Merger

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Title:

Agreement and Plan of Merger

Entities:

Great Atlantic & Pacific Tea Co. Inc.

Date:

2007

Size:

Preview shows 38KB of 309KB total

Price:

$90

ID:

#2752542

► Plans ► Agreements ► Agreements & Plans of Merger
► Retail ► Grocery

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AGREEMENT AND PLAN OF MERGER

by and among

THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC.

and

SAND MERGER CORP.

and

PATHMARK STORES, INC.

Dated as of March 4, 2007

TABLE OF CONTENTS


		Page

ARTICLE I

DEFINITIONS
SECTION 1.1	Definitions	1
SECTION 1.2	Additional Definitions	10

ARTICLE II

THE MERGER

SECTION 2.1	The Merger	12
SECTION 2.2	The Closing	12
SECTION 2.3	Effective Time	12
SECTION 2.4	Certificate of Incorporation and By-Laws	13
SECTION 2.5	New Director of Parent	13
SECTION 2.6	Directors	13
SECTION 2.7	Officers	13

ARTICLE III

EFFECT OF THE MERGER ON THE CAPITAL STOCK OF THE CONSTITUENT CORPORATIONS

SECTION 3.1	Effect on Capital Stock	13
SECTION 3.2	Payment to Company Stockholders	15
SECTION 3.3	Treatment of Options, Restricted Stock, Other Equity Awards and Warrants	17
SECTION 3.4	Adjustments	18
SECTION 3.5	Lost Certificates	19

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

SECTION 4.1	Corporate Status	19
SECTION 4.2	Authorization; Noncontravention	19
SECTION 4.3	Capital Structure	21
SECTION 4.4	Real Property	22
SECTION 4.5	Intellectual Property	23
SECTION 4.6	Environmental Matters	23
SECTION 4.7	Legal Proceedings	24
SECTION 4.8	Taxes	25
SECTION 4.9	Labor	26
SECTION 4.10	Employee Benefit Plans	27
SECTION 4.11	Compliance with Laws	29
SECTION 4.12	Company Contracts	29

-i-


		Page

SECTION 4.13	Company SEC Reports and Company Financial Statements	31
SECTION 4.14	Absence of Certain Changes	32
SECTION 4.15	Insurance	34
SECTION 4.16	Inventories	34
SECTION 4.17	Bank Accounts	34
SECTION 4.18	Brokers Fees	34
SECTION 4.19	Opinion of Financial Advisor	35
SECTION 4.20	Ownership of Parent Common Stock	35

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB

SECTION 5.1	Corporate Status	35
SECTION 5.2	Authorization; Noncontravention	35
SECTION 5.3	Capital Structure	37
SECTION 5.4	Real Property	37
SECTION 5.5	Intellectual Property	38
SECTION 5.6	Environmental Matters	38
SECTION 5.7	Legal Proceedings	38
SECTION 5.8	Taxes	39
SECTION 5.9	Labor	40
SECTION 5.10	Employee Benefit Plans	40
SECTION 5.11	Compliance with Laws	42
SECTION 5.12	Parent SEC Reports and Parent Financial Statements	42
SECTION 5.13	Absence of Certain Changes	43
SECTION 5.14	Insurance	44
SECTION 5.15	Ownership of Company Common Stock	45
SECTION 5.16	Solvency	45
SECTION 5.17	Financing	45

ARTICLE VI

COVENANTS

SECTION 6.1	Conduct of the Business by the Company	45
SECTION 6.2	Conduct of the Business by Parent	49
SECTION 6.3	No Solicitation; Other Offers	51
SECTION 6.4	Stockholders Meetings	52
SECTION 6.5	Financing	53
SECTION 6.6	Filings; Authorizations	55
SECTION 6.7	Director and Officer Liability; Indemnification; Excess Benefit Plans	57
SECTION 6.8	Access to Information	58
SECTION 6.9	Publicity	59
SECTION 6.10	Preparation of the Form S-4 and the Joint Proxy Statement	59
SECTION 6.11	Company Senior Subordinated Notes	60
SECTION 6.12	Affiliates	61
SECTION 6.13	Cooperation	62
SECTION 6.14	Employment and Employee Benefit Matters	62
SECTION 6.15	Merger Sub	63
SECTION 6.16	Stockholder Litigation	63

-ii-


		Page

SECTION 6.17	Notification of Certain Matters	63
SECTION 6.18	No Acquisition of Securities	63
SECTION 6.19	Section 16 Matters	63

ARTICLE VII

CONDITIONS OF CLOSING

SECTION 7.1	Conditions to Each Partys Obligations	64
SECTION 7.2	Additional Conditions to Obligations of Parent and Merger Sub	64
SECTION 7.3	Additional Conditions to Obligations of the Company	66

ARTICLE VIII

TERMINATION

SECTION 8.1	Termination of Agreement	67
SECTION 8.2	Fees and Expenses	69
SECTION 8.3	Effect of Termination

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