BI-LO Buys Winn-Dixie Stores for $560M

Grocery store chain BI-LO LLC is taking supermarket owner Winn-Dixie Stores Inc. private in a $560 million cash deal. Greenville, South Carolina-based BI-LO is owned by private equity firm Lone Star. The $9.50 per share offer represents a premium of approximately 75% over Winn-Dixie’s closing price Friday. Bi-Lo, which was sold to Lone Star in 2005, has struggled in recent years. The company emerged from bankruptcy protection in May 2010.

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