Image by Flickr user ratterrellImage by 20091005-bilo.jpg

Update November 23:

Bi-Lo has secured $350 million in financing, which seems likely to quell any merger talks for at least the time being and forgoing any unseen obstacles.

Learn a bit more in the press release.

Update October 6:

The State has done a nice followup with some good analysis. They also point out that unless Food Lion can spruce up their image, many Bi-Lo customers may drift to Publix.

Hop over to the paper for the story.

First reporting:

The Charleston Regional Business Journal reports that the bankrupt Mauldin-based Bi-Lo has received a purchase proposal from Food Lion's parent company, Delhaize Group.

The proposal has not been accepted just yet, but it looks like the Delhaize Group be coughing up around $425 million on the deal.