Shareholders of Winn-Dixie Stores Inc. voted to approve its acquisition by Bi-Lo LLC at a special meeting this morning at the company’s Westside Jacksonville headquarters.
The shareholder vote clears the way to complete the merger of the two supermarket chains.
Bi-Lo is owned by Dallas-based investor firm Lone Star Funds. The company will pay $9.50 a share to buy all of Winn-Dixie’s stock, a total of about $560 million.
The two companies still have some details to work out, such as where the headquarters of the merged company will be — in Jacksonville or at Bi-Lo’s offices in Greenville, S.C.
The companies have said they will maintain a significant presence in both cities.
The companies have also said that they will continue to operate their supermarkets under their current Winn-Dixie and Bi-Lo banners. Winn-Dixie operates 484 stores in Florida, Georgia, Alabama, Mississippi and Louisiana.
Bi-Lo has 207 supermarkets in North Carolina, South Carolina, Georgia and Tennessee.
The companies have already announced that Bi-Lo Chairman Randall Onstead will be president and CEO of the combined company. Winn-Dixie CEO Peter Lynch will leave after the merger is complete.
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