Home » Ahold, Delhaize Shareholders Approve Proposed Merger

Ahold, Delhaize Shareholders Approve Proposed Merger

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Last updated on March 16th, 2016 at 11:36 am

Ahold shareholders on Monday overwhelmingly approved the company’s proposal to merge with Delhaize Group, parent of the Food Lion and Hannaford grocery chains in the U.S.

Ahold shareholders voted at a meeting in Amsterdam. The meeting was attended by 129 shareholders, representing approximately 869 million shares.

In a separate meeting in Brussels on Monday, Delhaize shareholders also voted in favor of the proposed merger and all related resolutions.

Ahold Chairman Jan Hommen said, “We deeply appreciate the overwhelming support of our shareholders, as well as their confidence in the future of Ahold Delhaize. This is a critical milestone in the completion of our proposed merger, which will create an even stronger international food retailer for all stakeholders.”

Delhaize Chairman Mats Jansson added, “We are excited to receive this overwhelming support from our shareholders for this merger and all other related resolutions. Today’s vote underscores their clear appreciation of the strategic rationale for the combination of our two companies, which will create a stronger and more innovative food retail company, with enhanced scale and increased relevance in local communities. We are moving one step closer to the completion of this merger process, which is expected to take place mid-2016.”

Ahold and Delhaize announced in June their intention to merge, creating an international retailer with more than 6,500 stores. The companies say the merger will bring together a portfolio of strong, trusted local brands and more than 375,000 associates serving more than 50 million customers each week across the U.S. and Europe. The transaction is on track for completion in mid-2016.

Regulatory review of the proposed merger currently is under way with the Belgian Competition Authority and the U.S. Federal Trade Commission.

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