BI-LO completes acquisition of Winn-Dixie stores
by MBJ Staff
Published: March 13,2012
JACKSONVILLE, Fla. — BI-LO, LLC has successfully completed its merger with Winn-Dixie Stores Inc. following approval of the transaction by Winn-Dixie shareholders March 9.
All Winn-Dixie stockholders will be eligible to receive $9.50 per share in cash for each share of common stock held, for a total purchase price of $560 million.
As a result of the merger, BI-LO and Winn-Dixie are now subsidiaries of the privately held parent company, BI-LO Holding, which encompasses 688 grocery stores and 63,000 team members in eight states throughout the Southeast. BI-LO and Winn-Dixie will continue to operate under their banners. The company does not expect any store closures as a result of this combination.
The company will eventually be headquartered in Jacksonville, Fla.
On Dec. 19, 2011, BI-LO and Winn-Dixie announced that the companies had entered into a definitive agreement under which BI-LO would acquire all of the outstanding shares of Winn-Dixie stock at a price of $9.50 per share. As a result of the completion of the merger, Winn-Dixie’s common stock has been delisted from NASDAQ.
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