11:47 AM EST - Loblaw Companies Limited : announced that the shareholders of T&T Supermarket Inc. have entered into an agreement with Loblaws Inc., a subsidiary of Loblaw, for the purchase of all the common shares of T&T Supermarket. The purchase price will be $225 million, with certain adjustments to be made at closing. $191 million of the purchase price will be funded by cash and the remaining through preferred shares issued by T&T, the value of which will be tied to the future performance of the business. It is expected that the acquisition will be accretive to Loblaw earnings in the first year following closing. Closing of the transaction is expected prior to year end. Loblaw Companies Limited
shares T.L are trading down $0.98 at $34.77.
