Dollar General enters bidding for Family Dollar

[Omaha Steve]

Source: AP-EXCITE

GOODLETTSVILLE, Tenn. (AP) — There's now a bidding war for Family Dollar, with Dollar General offering about $8.95 billion for the discounter in an effort to trump Dollar Tree's bid.

Dollar General Corp. said Monday that it would pay $78.50 per share in cash, 3 percent higher than Family Dollar Stores Inc.'s Friday closing price of $76.06. Dollar General put the deal's value at $9.7 billion.

Last month Dollar Tree Inc. made an $8.5 billion bid for Family Dollar. It offered to pay $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 at the time. Including debt and other costs, the companies estimated the transaction to be worth approximately $9.2 billion.

Dollar General said that its offer would create a business with almost 20,000 stores in 46 states and sales of more than $28 billion. The Goodlettsville, Tennessee, company anticipates annual savings of $550 million to $600 million three years after the transaction closes.

FULL story at link.



In this Tuesday, July 29, 2014 photo, customers enter a Family Dollar store on Plaza Boulevard, in Kinston, N.C. There{2019}s now a bidding war for Family Dollar, with Dollar General offering about $9.7 billion for the discounter in an effort to trump Dollar Tree{2019}s bid of $8.5 billion. (AP Photo/Kinston Free Press, Janet S. Carter)



Read more: http://apnews.excite.com/article/20140818/us--dollar_general-family_dollar-aa834022f9.html

[Orrex]

1. I'll buy that for a dollar.

[onehandle]

2. Instead of lifting the poor up, we make being poor 'the norm.'

America. Fuck Yeah!

[PatrynXX]

3. Dollar Tree... would make Family Dollar less racist

Not sure about Dollar General. I won't even enter Family Dollar because a fellow older student I was with told me a story about family dollar claiming his wife stole stuff and chased her down in her car. arrested her booked her oops wrong person. Nope won't go there.. The local paper said this was totally done. Didn't know about a bidding war. But being that the paper was so stupid it overpaid it's editor then let the mailroom go and sent the press out of the city what else is new..