Ahold and Delhaize appear confident that the divestiture of nearly 90 U.S. stores will be enough to earn the go ahead from the Federal Trade Commission on its $28 billion merger. The two retailers have announced their intention to sign on the dotted line tomorrow, July 23, if regulatory clearance is granted.
Almost immediately after, the companies plan to begin trading as AD on Euronext Amsterdam and Brussels on Monday, July 25. Likewise, Ahold Delhaize American Depositary Receipts (ADRs) will trade over-the-counter in the United States, according to a press release.
Delhaize’s stock has steadily risen over the last month as the two approach the close of the merger, up today .04% to $28.13 USD per share, with the last trading date of the Delhaize ordinary shares on Euronext Brussels set for today, July 22, 2016.
It would mean the end of an almost year-long deal, but an even longer attempt and marrying businesses. The two came close to making it happen in 2006/2007, but were not able to come to an agreement. They were able to reach agreements much more quickly this time, and have been weaving through regulatory stipulations to get to its goal of finishing before July of 2016 was up. Now, though very close to the wire, FTC approval is all that is left.
Deli Market News will see the deal through to the end, so stay tuned.