National News

Jul 28, 2014 6:24 AM

Dollar Tree Buying Family Dollar for $8.5 Billion

NEW YORK (AP) - Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.

Stockholders of Family Dollar Stores will receive $59.60 in cash and the equivalent of $14.90 in shares of Dollar Tree for each share they own. The companies put the value of the transaction at $74.50 per share.

The boards of both companies have unanimously approved the deal, which is expected to close by early next year.

Shares of Family Dollar Stores Inc., based in Charlotte, North Carolina, spiked 20 percent before the opening bell Monday. Shares of Dollar Tree Inc., based in Chesapeake, Virginia, are up almost 4 percent.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

»Comments

Top Videos

1 2 3 4

Submit News

Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.

Most Popular

KRISTV.COM is Social!


Click the icons above to receive News, Weather, and Sports alerts from KRISTV.COM!

Inside KRISTV.COM

Contact Us
Send us your feedback. We want to hear from you!
Photo Central
Look at photos and videos and share them!
KRISTV.COM Mobile Website
Get KRISTV.com on your mobile or PDA!
KRISTV.COM Mobile Apps
Get our mobile apps on your mobile or PDA!
Texas Lottery
See the latest winning numbers!
6 News Team
Read about your favorite KRIS-TV personalities!
FCC Online Public File
FCC Public File of Records, Reports, and more