Bi-Lo to Pay $9.50 a Share for Winn-Dixie

[Sherman A1]

Bi-Lo agreed on Monday to buy Winn-Dixie Stores for about $560 million, uniting two of the South’s better-known regional supermarket operators.

Under the terms of the deal, the privately held Bi-Lo will pay $9.50 a share in cash, 75 percent more than Winn-Dixie’s closing price on Friday.

The two companies said in a statement that the merger was driven by a desire for greater scale. Bi-Lo’s and Winn-Dixie’s geographic areas have no overlap. Bi-Lo operates 207 stores in South Carolina, North Carolina, Tennessee and Georgia, while Winn-Dixie runs 480 locations in Florida, southern Georgia, Alabama, Mississippi and Louisiana.

More sign of the times, one supposes...


http://dealbook.nytimes.com/2011/12/19/bi-lo-to-buy-winn-dixie-for-9-50-a-share/?src=dlbksb

[Go Vols]

1. Bi-Lo

was sold to Southern Family Markets prolly 7 years ago here,then closed within 2 years.

[Sherman A1]

2. Welcome to DU

[RedRocco]

3. they used to have overlap

until winn dixie pulled out of poor areas a few years back.