JACKSON, Miss. -- Jitney-Jungle Stores of America here said last week it is now the majority shareholder in Delchamps, Mobile, Ala., controlling 74% of the equity following completion of its cash tender offer.
Jitney said it expects to buy up the remaining stock over the next 60 days.
The deal, which was disclosed in early July, required two-thirds of the outstanding stock to be tendered.
Owners of 5.3 million Delchamps shares, or 74% of the total outstanding, turned