JACKSONVILLE, Fla. — In a letter to Winn-Dixie Stores employees, Peter Lynch, chairman, president and chief executive officer said he would provide an update on the company's planned acquisition by Bi-Lo every Friday throughout the process.
Winn-Dixie also created an online resource area for employees where they can read all of the official communications about the deal. The resource area also includes a "frequently asked questions" page.
"First and foremost, I and our board of directors agree that this merger with Bi-LO is great for Winn-Dixie and its shareholders," Lynch said in the letter, a copy of which was filed with the Securities and Exchange Commission last week. "I strongly believe this will help make us more successful and more profitable and will help us all to better deliver on our promise to make our guests' lives easier and fun."
He also noted that as a private company, Winn-Dixie would no longer need to report its financial results publicly, which he said would be "a good thing" as competitors would no longer have access to such information.
As previously reported, Bi-Lo has offered about $560 million to take Winn-Dixie private in a transaction that is expected to close in the next 60 to 120 days.
