Wednesday, July 13, 2016

Delhaize sees merger completion by end of July

Image result for delhaize and ahold mergerFood retailers Delhaize Group and Koninklijke Ahold N.V. said Tuesday they expect to complete their roughly $31 billion tie-up by the end of July, subject to U.S. Federal Trade Commission approval.

The companies announced their merger plan in June last year to create one of the largest grocery chains in the U.S. and Europe, with more than 6,500 stores and 375,000 employees. They hope that a combination will strengthen their buying clout and reduce costs as they grapple with competition from discounters and upscale chains on both continents.. . . more

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