Ahold and Delhaize Shareholders Vote Yes on the Merger
ZAANDAM, NETHERLANDS - Shareholder voted overwhelmingly in favor of Ahold and Delhaize’s proposed merger yesterday, March 14th.
Not only did the vote go through, but so did approval from the Belgian Competition Authority (BCA), according to the companies, so long as they divest 13 existing stores, 8 Albert Heijn stores and 5 Delhaize franchised stores.
These are terms we previously reported could be set by the authority, which the company happily stated would not result in any store closures.
Ahold and Delhaize Group today announced that they have received approval from the Belgian Competition Authority (BCA) for their intended merger, an important milestone in the process to completion.
Another term set was the divestiture of a certain number of future Ahold and Delhaize projects, though no Delhaize integrated store will be included. The BCA’s approval for the $28 billion merger is conditional upon the completion of those terms.
The two chains’ stores will operate separately until those stipulations are met, though the transaction is still reportedly estimated to be complete in mid-2016.
While this does clear the way for the marriage of the two banners for Europe, the companies have not yet released any information in regards to speculations of FTC approval and what possible store sales may be required for that, as Ahold and Delhaize combined have almost 2,300 stores in the U.S.
AndNowUKnow will continue to follow the deal as it solidifies.
