Legislative, Regulatory & Legal

GREENVILLE, S.C. — BI-LO and Winn-Dixie Stores on Monday announced that the companies will merge to create an organization of approximately 690 grocery stores and 63,000 employees in eight states throughout the Southeastern United States.

Under the terms of the definitive agreement, BI-LO will acquire all of the outstanding shares of Winn-Dixie stock in the merger. Winn-Dixie shareholders will receive $9.50 in cash per share of Winn-Dixie common stock, representing a premium of approximately 75% over the closing price of Winn-Dixie common stock on Dec. 16.

ATLANTA — Coca-Cola on Thursday announced that Geoffrey Kelly will be retiring from his post as SVP and general counsel.

Kelly, who joined the company in 1970, will retire in February 2012. He has served in the role of SVP and general counsel since 2005.

Succeeding Kelly is Bernhard Goepelt, who will take on the role of SVP general counsel and chief legal counsel, effective immediately. Kelly will remain SVP during a transition period, Coca-Cola noted.

Jacksonville, Fla. -- Stein Mart Inc. said Wednesday that it has been put on notice by the Nasdaq exchange because it did not file its third-quarter results by the deadline.

The retailer said it has been given 60 days to submit a plan to regain compliance, or it could be delisted from the Nasdaq exchange.

New York City -- Wal-Mart Stores spent $1.49 million on lobbying in the third quarter on a wide range of issues including food safety, nutritional labeling and corporate tax reform, according to a recent disclosure report.

The total is the same as the $1.49 million the discounter spent in second quarter 2011.
 

New York City -- Lowe's Home Improvement is facing a backlash in the wake of its decision to stop advertising on a reality show about American Muslims. About 40 local and national Muslim and Arab-American leaders from around the nation are expected to participate Monday evening in a conference call to discuss the decision by the home improvement chain to pull its ads from the cable show "All-American Muslim,” The Detroit News reported.

Mumbai, India -- A Monday report by Reuters said that the world’s third-largest retailer Tesco Plc has delayed its plans to set up wholesale stores in India, as it faces mountains of political red tape and controversy in the country.

Reuters, citing a report in the Business Standard newspaper, said that the supermarket giant will instead focus on setting up warehouses and back-end infrastructure. 

Bentonville, Ark. -- A Friday report by Reuters said that Wal-Mart Stores Inc. disclosed an agreement Thursday to sell more than 70 million shares by a firm controlled by members of the founding Walton family.

Walton Enterprises LLC, controlled by S. Robson Walton, Alice L. Walton, Jim C. Walton and the John T. Walton Estate Trust, registered for sale 70,615,608 shares of company stock. That represents about 2% of Wal-Mart's outstanding shares.

Chicago -- Illinois House leaders have agreed to pass tax breaks in order to keep Sears Holdings Corp. from abandoning its Hoffman Estates, Ill., headquarters in search of a new out-of-state home, according to Reuters.

The deal is also designed to keep Ill.-based securities and commodities trading company CME Group in-state as well.

The House had previously shot down the tax package.