USA: Buyout of Delhaize America completed by Delhaize after shareholders are sweetened
The stakes for Delhaize America , originally laid out during September, have been raised in a bid to finalise a buyout of minority shareholders by parent company Delhaize . The deal offered by Belgium's largest retailer is now valued at €2.2bn, raising the share value of the US subsidiary by 6%. The previous offer of 0.35 of a Delhaize share for every share in Delhaize America devaluated the US company, and was not enough to sway the minority shareholders who control 55% of the equity and 45% of the voting rights. Now, however, they have been convinced by an opportunity to gain some ready cash when Delhaize repurchases 10% of its stock for €400m and a deal which provides 0.40 of a share in the parent company for every share in Delhaize America.In addition, Delhaize has offered a full 2000 dividend for Delhaize shareholders if the deal is completed by May, when the next annual meeting is held.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Danone's Q1: four things to learn
- Interview: Sir Kensington's on sale to Unilever
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Interview: "Disruptive" snack brand Hippeas
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre