Hannaford is selling the stores in North Carolina and Virginiato settle antitrust concerns. Salisbury-based Delhaize is payingHannaford $79 a share, cash and stock.
Hannaford shareholders are expected to receive about $2.7million in cash and about $650 million in Food Lion class A commonstock. Delhaize America is also assuming about $300 million inHannaford debt. Delhaize owns the Food Lion, Kash 'n Karry and Save'n Pack chains.
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