Cantor Fitzgerald Downgrades Nash Finch (NAFC) to Hold
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Spartan Stores (SPTN), Nash Finch (NAFC) Enter $1.3B Merger
July 22, 2013 7:02 AM EDTSpartan Stores, Inc. (Nasdaq: SPTN) and Nash Finch Company (Nasdaq: NAFC) announced that they have entered into a definitive merger agreement under which Spartan Stores and Nash Finch will combine in an all-stock merger valued at approximately $1.3 billion, including existing net debt at each company.
The combination creates a leader in the grocery wholesale, retail and military commissary and exchange channels with pro forma annual sales of approximately $7.5 billion. Together, Spartan Stores and Nash Finch will have 22 distribution centers covering 37 states, 177 retail stores and will be the... More
