	sainsbury s taking control of shaw s supermarkets j sainsbury plc snb l said it agreed to take control of the u s shaw s supermarkets inc through a combination of share purchases and a tender offer at dlrs a share sainsbury bought about pct of the stock in it said its u s subsidiary chene investments inc bought mln common shares from the controlling davis family yesterday at dlrs a share for mln dlrs lifting its stake to pct a tender offer for the outstanding shares will be launched also at dlrs a share for a maximum further cost of mln the shaw s board and the davis family has agreed to accept the offer thus assuring sainsbury s a total holding of pct the company had allotted mln new ordinary shares to warburg securities ltd which it said would be sufficient to finance about mln dlrs of the maximum mln dlrs payable shaw s operates a chain of supermarkets in massachusetts maine and new hampshire which in produced sales of billiob dlrs and pretax profit of mln at the end of it had net assets of mln dlrs last september sainsbury s increased its stake in shaw s to pct in the year to march it reported a rise in pretax profit to mln stg from mln on sales that increased to billion from billion sainsbury shares had fallen five pence before the announcement to p from last night s close but were unmoved by news of the deal reuter 
