LOS ANGELES — A securities law firm here said Monday it is "investigating potential claims" against the board of directors of Winn-Dixie Stores related to the proposed acquisition of the company by Bi-Lo for about $560 million.
The firm, Glancy Binkow & Goldberg, said the investigation centers around whether or not Winn-Dixie adequately sought other buyers before agreeing to the offer of $9.50 per share from Bi-Lo. Winn-Dixie's stock traded as high as $9.81 in July, the law firm noted.
In recent weeks, Winn-Dixie's stock had been trading in the $5 to $5.50 range, and was up nearly 70% in Monday's trading after the announcement of the Bi-Lo offer.
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