Family Dollar is being acquired by dollar-store rival Dollar Tree for $8.5 billion. NEW YORK (CNNMoney)
Dollar Tree (DLTR) is buying its larger rival for $74.50 a share in cash and stock, 23% more than Family Dollar's closing price on Friday, for a total value of $8.5 billion.
Combined, the two chains have more than 13,000 stores and annual revenue of $18 billion. That would surpass the current leader in the dollar-store sector, Dollar General (DG), which has more than 11,000 stores and revenue of $17.5 billion.
Dollar Tree plans to continue to operate both the Dollar Tree and Family Dollar brands after the merger is completed. It expects the deal to close early next year.
A big winner in the deal is activist investor Carl Icahn, who holds 9.4% of Family Dollar shares, according to sales tracker LionShares. Icahn acquired most of the shares in the past year.
Shares of the company shot up in June when Icahn disclosed his stake, but have given back most of the gains since. The stock is down nearly 6% for the year through Friday's close.
Shares of Family Dollar (FDO) soared on the news in premarket trading.
First Published: July 28, 2014: 7:05 AM ET
Anda sedang membaca artikel tentang
Dollar stores joining forces
Dengan url
https://sepakgajah.blogspot.com/2014/07/dollar-stores-joining-forces.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Dollar stores joining forces
namun jangan lupa untuk meletakkan link
sebagai sumbernya
0 komentar:
Posting Komentar