Ahold, Delhaize Agree $29 Billion Merger
June 24 2015 - 2:34AM
Dow Jones News
By Ian Walker and Archie van Riemsdijk
European grocery chains Royal Ahold NV and Belgium's Delhaize
Group have agreed a EUR26.07 billion ($28.63 billion) merger of
equals, based on their closing share prices Tuesday, creating one
of the largest supermarket operators in the U.S.
Under the deal Delhaize shareholders will receive 4.75 Ahold
ordinary shares for each share held. Ahold shareholders will own
61% of the combined company's equity and Delhaize shareholders will
own the rest.
Ahold said it would terminate its continuing share buyback
program and return EUR1 billion to shareholders via a capital
return and a reverse stock split before completion of the
transaction.
The combined board will be lead by Mats Jansson as chairman with
Dick Boer as chief executive.
Write to Ian Walker at ian.walker@wsj.com and Archie van
Riemsdijk at archie.vanriemsdijk@wsj.com
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