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Subsequent Event - Merger
6 Months Ended
Jun. 15, 2013
Subsequent Events [Text Block]  
Subsequent Events [Text Block]

Note 12 – Subsequent Event – Merger


                On July 21, 2013, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Spartan Stores, Inc., a Michigan corporation (“Spartan”), and SS Delaware, Inc., a Delaware corporation and a wholly owned subsidiary of Spartan (the “Merger”).  The Merger Agreement, upon closing, will result in an all-stock merger valued at approximately $1.3 billion, including existing net debt at each company, and was unanimously approved by the Board of Directors of the Company.


                At the effective time of the Merger, (a) each share of the Company’s common stock issued and outstanding immediately prior to the effective time (other than shares owned by the Company, Spartan or Merger Sub) will be automatically cancelled and converted into the right to receive 1.2 (the “Exchange Ratio”) fully paid and nonassessable shares of Spartan’s common stock and (b) the Company’s stock options and other equity awards will be generally converted into stock options and equity awards with respect to Spartan’s common stock, after giving effect to the Exchange Ratio.  Spartan Stores shareholders will own approximately 57.7% of the equity of the combined company and Nash Finch shareholders will own approximately 42.3%.  It is expected that the Merger will qualify as a tax-free reorganization for U.S. federal income tax purposes.