BI-LO to Pay Winn-Dixie Stores, Inc. (WINN) Shareholders a Premium Price as Companies Announce Merger
Today, private company BI-LO, LLC, operator of some 207 supermarkets and 116 in-store pharmacies in the US SE market, and Winn-Dixie Stores, Inc. (WINN), with their fleet of some 480 supermarkets/380 in-store pharmacies, announced a merger, resulting in an extremely formidable organization. Terms of the agreement stipulate that: • BI-LO acquires all outstanding WINN shares via a transaction ($560M value) not subject to any financing conditions • WINN shareholders receive $9.50 in cash per common share (75% premium over the Dec. 16 closing price) Transaction closure is projected within 60-120 days (subject to customary closing conditions and WINN shareholder approval),…