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| Winn-Dixie Stores Inc. |
| Winn-Dixie Stores Inc. (Nasdaq: WINN) shareholder litigation in connection with alleged unfair takeover offer |
On December 19, 2011, Winn-Dixie Stores Inc.
("Winn-Dixie" or the "Company") announced that it
has agreed to sell the Company to Bi-Lo. Under the
terms of the transaction, Winn-Dixie shareholders
will receive $9.50 per share of Winn-Dixie stock
theyown. The transaction has a total approximate
value of $560 million.
("Winn-Dixie" or the "Company") announced that it
has agreed to sell the Company to Bi-Lo. Under the
terms of the transaction, Winn-Dixie shareholders
will receive $9.50 per share of Winn-Dixie stock
theyown. The transaction has a total approximate
value of $560 million.
The investigation concerns whether the Winn-Dixie Board of Directors breached their fiduciary
duties to Winn-Dixie stockholders by failing to adequately shop the Company before entering into
this transaction and whether Bi-Lo is underpaying for Winn-Dixie shares, thus unlawfully harming
Winn-Dixie stockholders. In particular, at least one analyst has set a price target for Winn-Dixie
stock at $11 per share, Winn-Dixie shares have traded as high as $10.08 as recently as July 21, 2011
and the Company has reported a book value of $14.98 per share, for the most recent quarter.
duties to Winn-Dixie stockholders by failing to adequately shop the Company before entering into
this transaction and whether Bi-Lo is underpaying for Winn-Dixie shares, thus unlawfully harming
Winn-Dixie stockholders. In particular, at least one analyst has set a price target for Winn-Dixie
stock at $11 per share, Winn-Dixie shares have traded as high as $10.08 as recently as July 21, 2011
and the Company has reported a book value of $14.98 per share, for the most recent quarter.
