Business

Dollar Tree Buying Family Dollar for $8.5 Billion

Family Dollar
(AP Photo/Ross Taylor, File)

Hadley Malcolm, USA TODAY

(USA Today)—Dollar Tree is buying competitor Family Dollar in a cash-and-stock deal worth about $8.5 billion.

The boards of both companies unanimously approved the merger, announced Monday. The transaction is valued at $74.50 a share, a nearly 23% premium over Family Dollar’s closing price Friday. Family Dollar shareholders will receive $59.60 in cash and $14.90 in equivalent Dollar Tree shares.

In a press release, Dollar Tree CEO Bob Sasser called the deal a “transformational opportunity.”

“This acquisition will extend our reach to lower-income customers and strengthen and diversify our store footprint,” he said.

 

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