ZAANDAM, the Netherlands – Ahold and Delhaize Group on Friday announced the filing of the common draft terms of the cross-border merger.
Delhaize filed the Joint Merger Proposal at the Brussels Commercial Court. This is one of the required steps ahead of convening the companies’ respective Extraordinary General Meetings of shareholders, which are expected to take place in the first half of 2016.
The Joint Merger Proposal, together with the draft Articles of Association of the future combined company, are available at www.adcombined.com.
On June 24, 2015, Ahold and Delhaize Group announced their intention to merge, creating an international retailer with a portfolio of strong, trusted local brands.
In the United States, the combined company would operate 2,063 stores with sales of roughly $36.9 billion. Barring any store closures, the combined U.S. operations of Ahold and Delhaize would net 825 pharmacy locations.
The transaction is expected to be completed mid-2016, following associate consultation procedures, shareholder approval and regulatory clearances. (Drugstore News)