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The Asbury Park Press reports that a three-member committee of directors from Foodarama Supermarkets has recommended that shareholders accept an offer made by an investor group to take the 26-store company private.

The investor group is led by the Saker family, which already owns 51 percent of the company. The price being offered is $53 per share.

Even if shareholders approve the deal, it still needs the imprimatur from Wakefern Food Corp., the retailer-owned cooperative.
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