Ahold and Delhaize has announced that their much-anticipated merger is set to be completed this Saturday, 23 July, approximately 13 months after the deal was first announced.
A statement issued this morning said that both groups 'expect to complete their intended merger on July 23, 2016 if regulatory clearance has been obtained from the Federal Trade Commission (FTC) in the United States by that date'.
Following that date, ordinary shares in the combined company, Ahold Delhaize, are to commence trading on Euronext Amsterdam and Euronext Brussels with ticker symbol AD on Monday, July 25, 2016.
On the back of today's announcement, Bruno Monteyne of Bernstein Research said that "Ahold Delhaize are ready to activate synergies", and it is likely that "people who will be made redundant at head office have already been told."
Monteyne added, "Consultants for both sides of the transaction have access to both companies' buying lists and have already prepared the detailed 'Play books': clear lists for every buyer indicating where his counterparty is buying better or worse, and what reductions to go and negotiate. As soon as the deal goes through, all buyers receive their lists and can start the process of renegotiating terms."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
