Winn-Dixie to be Taken Private

RetailReuters

Privately held supermarket operator BI-LO LLC agreed to buy grocer Winn-Dixie Stores Inc (NASDAQ:WINN) for $560 million in cash.

Greenville, South Carolina-based BI-LO will pay $9.50 per Winn-Dixie share -- a 75 premium to the stock's closing price on Friday.

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BI-LO and Winn-Dixie said in a joint statement that the new company's management team will be decided once the deal is closer to being finalized.

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