GREENVILLE, S.C. (AP) -- The supermarket chain Winn-Dixie is being sold for $560 million to Bi-Lo LLC.
The combined company will have about 690 stores and 63,000 workers in eight states in the southern U.S. Winn-Dixie Stores Inc. will become a privately held subsidiary and its ticker will be removed from the Nasdaq.
Each Winn-Dixie stockholder gets $9.50 per share in cash, a 75 percent premium to the Jacksonville, Fla. company's Friday closing stock price.
Bi-Lo, based in Greenville, S.C., runs 207 supermarkets in North Carolina, South Carolina, Georgia and Tennessee.
Winn-Dixie runs about 480 grocery stores, including approximately 380 in-store pharmacies, in Florida, Alabama, Louisiana, Georgia and Mississippi. It has about 46,000 employees.
The companies said Monday that no store closings are expected and the name Winn-Dixie will remain.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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