COWBOYS TRAINING CAMP: Camp News | FAN Beach House | Live Webcam | Listen Live | NFL News | Tweets

Business

Dollar Tree Buys Family Dollar For $8.5 Billion

American dollar bills. (Credit: Getty Images/Spencer Platt)

American dollar bills. (Credit: Getty Images/Spencer Platt)

From Our CBS Music Web Sites

453641528 10 Dollar Tree Buys Family Dollar For $8.5 BillionAdorbale Baby Animals To Put A Smile On Your Face

150725619 10 Dollar Tree Buys Family Dollar For $8.5 BillionHot Models In Glasses

 alt=Musicians Then And Now II

452359780 10 Dollar Tree Buys Family Dollar For $8.5 BillionMissing Summer?

87222728 Dollar Tree Buys Family Dollar For $8.5 Billion8 Reasons to Have A Good Love Life

sx Dollar Tree Buys Family Dollar For $8.5 Billion Victoria's Secret Fashion Show

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 This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending: