U.S. food distributors Spartan Stores Inc and Nash Finch Co said they will merge in an all-stock deal valued at $1.30 billion including debt to expand their geographic reach.
Under the terms, Nash Finch shareholders will receive a fixed ratio of 1.20 shares of Spartan Stores common stock for each share of Nash Finch.
On closing, Spartan Stores shareholders will own about 57.7 percent of the combined company, while Nash Finch shareholders will hold about 42.3 percent.
