Amadeusz Juskowiak

Miller tabak has 918 pct of penn traffic pnf

Miller Tabak Hirsch and Co said it has received an accepted 3424729 common shares of Penn Traffic Co in response to its 3160 dlr per share tender offer that expired Friday and together with the 380728 shares it already owned it now has about 918 pct of Penn Traffic

The company said Penn Traffic is expected to hold a special shareholders meeting later this month to approve a merger into Miller Tabak at the tender price

It said two Miller Tabak representatives will be named to the Penn Traffic board on March Four to serve as the only directors with Penn Traffic president and chief executive officer Guido Malacarne

The company said it received financing for the transaction from First National Bank of Minneapolis and Salomon Inc SB