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What: Shares of supermarket chain Winn-Dixie Stores
So what: The all-cash deal values Winn-Dixie at $9.50 per share and represents a whopping 75% premium to its closing price on Friday. The transaction marries two of the more established supermarkets in the southern U.S., with the combined company having about 690 stores and 63,000 workers in the region.
Now what: The deal, which Winn-Dixie's board has unanimously approved, is expected to close in the next 60-120 days."[T]he combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service," said BI-LO Chairman Randall Onstead. Of course, for Winn-Dixie shareholders about to be taken private, Kroger
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