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.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info