Bi-Lo and Winn-Dixie complete merger
Winn-Dixie and Bi-Lo have merged.
Merger and acquisition advisors might not be needed any longer by Bi-Lo, as it has completed its combination with Winn-Dixie Stores.
All stockholders at Winn-Dixie will be able to receive $9.50 (£6.07) for every share of common stock owned, which equates to a total purchase cost of $560 million.
Winn-Dixie shareholders approved the merger on March 9th during business negotiations at the enterprise's headquarters in Jacksonville, Florida.
There should not be any store closures as a result of the deal.
Both firms will now be owned by US supermarket chain Bi-Lo Holding, which is now the ninth-largest business of its type in the country.
The brands will still operate under their old banners and the firm's headquarters will be in Jacksonville.
Chief executive officer and president of Bi-Lo Holding Randall Onstead said: "Together, we are a stronger company that will be focused on meeting and exceeding our customers' expectations by offering even greater value with the service and shopping experience."
Posted by Ron Maverick
Source: Winn Dixie press release, March 12th