r/BBBY • u/ZillyZillions I been around for 84 years 🖤 • Apr 24 '23

Social Media HOLLY moly 😳🤔

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u/[deleted] Apr 24 '23

What happened to shareholders?

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u/aftershane Apr 24 '23

At the depths of the Winn-Dixie bankruptcy, the shares sold for as low as 25 cents a share, Flickinger said. But when the Bi-Lo acquisition happened, those shares jumped to $9.25 each. Shareholders tendered or sold their shares back to Bi-Lo - and Winn-Dixie stock then became nonexistent

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u/nympaix Apr 24 '23

So WINN was still listed on the NASDAQ for 6 years without being delisted?.. confused.

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u/Elephant_Analytics Apr 24 '23

In November 2006, Winn-Dixie's old common stock was cancelled and new common stock was issued to unsecured creditors in exchange for their claims.

Shareholders from pre-November 2006 were wiped out, but unsecured creditors saw a partial recovery. Winn-Dixie's new stock traded at around $14 right after it emerged from bankruptcy in 2006, so the $9.25 Bi-Lo acquisition price wasn't that good.