Dart withdrew its bid for Supermarkets General.
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Dart Corp., a Landover, Md.-based operator of discount drugstores, said it decided not to proceed with its $1.8-billion offer to acquire Supermarkets General Corp. of Woodbridge, N.J., because the large food retailer had failed to respond to its month-old bid. In a letter to Supermarkets General, Dart said “prudent business” dictated that its offer “should not remain open indefinitely, without response or negotiation.” But Leonard Lieberman, chairman and chief executive of Supermarkets General, issued a statement accusing Dart, which is controlled by the Haft family, of distorting the circumstances surrounding the offer.
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