Written statement from Arthur T. Demoulas, released through a spokeswoman on Sunday:
Arthur T. Demoulas and his side of the family have been working around the clock to pursue their offer to buy the 50.5% of shares in DSM they do not own for a full and fair price. As part of his proposal, Arthur T. has also offered to move immediately to return to work in advance of the completion of the stock purchase and work to bring back his full team to stabilize and begin to restore the business. He offered to do so starting as soon as midnight tonight.
These steps are critical at this point and are in the best interests of Associates, customers, vendors and shareholders. Time is of the essence. Arthur T. is hopeful but resolution depends on the response of the other shareholders in order for an agreement to be reached.
Statement from the Board of Demoulas Super Markets:
“Demoulas Market Basket is considering strategic alternatives directly with parties in private conversations. We encourage the B shareholders, including Arthur T. Demoulas, to continue providing constructive proposals. Following the Board's evaluation of all of offers, it will convey its recommendations to the Company’s shareholders who have the final decision as to which strategic alternative, if any, to accept. The Board fully supports the current management team in their efforts to ensure that Market Basket’s normal business operations resume immediately for the benefit of its customers, associates, vendors and communities.”
