December 19, 2011 6:11 PM
Five Firms Advise as Bi-Lo Bags Winn Dixie in $560 Million Deal
Posted by Tom Huddleston Jr.
Supermarket chain Bi-Lo just crossed rival Winn-Dixie off its shopping list.
Greenville, South Carolina–based Bi-Lo has agreed to buy the larger Winn-Dixie for $560 million, the companies announced Monday.
Under terms of the deal, which joins two supermarket chains that have emerged from bankruptcy within the past five years, Bi-Lo will pay $9.50 in cash for each Winn-Dixie share—a premium of 75 percent over the company’s stock price as of the close of trading Friday.
Gibson, Dunn Crutcher is serving as Bi-Lo’s outside counsel on the transaction, with a team led by Dallas corporate partner Jeffrey Chapman. Corporate partner Eduardo Gallardo, banking partner Joerg Esdorn, environmental partner Thomas McHenry, employee benefits partner David Schiller, and tax partner David Sinak also are advising.
Chapman, who joined Gibson Dunn from Vinson Elkins in January, was a part of a VE team that advised Bi-Lo on its bankruptcy filing in 2009.
Hunton Williams is advising Bi-Lo on related tax matters, according to the press release
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