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Last Updated ( Monday, 28 July 2014 16:11 )
DATE_FORMAT_LC2=Monday,July 28 2014 12:00:00 am EDT   
Dollar Tree to Acquire Family Dollar for $8.5 Billion

Chesapeake, Va. and Matthews, N.C. – Dollar Tree Inc. and Family Dollar Stores Inc. have entered into a definitive merger agreement under which Dollar Tree will acquire Family Dollar in a cash and stock transaction valued at approximately $8.5 billion. The value of the consideration is $74.50 per share, a 22.8 percent premium over Family Dollar's closing stock price as of Friday. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close by early 2015, at which time the Family Dollar shareholders will receive $59.60 in cash and $14.90 equivalent in Dollar Tree shares. "With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with more than 13,000 stores in 48 states and five Canadian provinces, sales of over $18 billion, and more than 145,000 associates on our team," says Bob Sasser, CEO of Dollar Tree. Dollar Tree will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and will operate under the Family Dollar brand upon closing.

 John Nelson 

 

 

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