Sources have said that the company is searching for alternatives to a bid from Dart Group.
Woolworth stock leaped on news that the Dart Group intended to take a stake.
Late yesterday afternoon, the company's board rejected a $6.3 billion buyout offer from Dart Group.
The Dart Group attempted a takeover bid by aggressively buying its stock.
Stop and Shop said it would review the $834 million offer from Dart Group.
And the Dart Group, which had already made some moves against major retailers, was also mentioned.
Executives of the Dart Group declined to comment on their plans.
The companies are not related to Dart Group, the investment vehicle of the Haft family.
The $44-a-share deal is intended to ward off a takeover attempt by the Dart Group.
Haft family members own all the voting stock in the Dart Group.