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Wednesday, October 01, 2014, 1:20 p.m.
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Dollar Tree buying Family Dollar for $8.5 billion

By The Associated Press

This article was published July 28, 2014 at 7:31 a.m.

NEW YORK — 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, which is an about 23 percent premium to Family Dollar's Friday closing price of $60.66.

Family Dollar stockholders will own somewhere between 12.7 percent and 15.1 percent of Dollar Tree's outstanding common shares at closing.

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