Dollar Tree Agrees to Acquire Family Dollar for $8.5 Billion

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Dollar Tree Inc. agreed to buy Family Dollar Stores Inc. for about $8.5 billion, creating a sprawling discount chain with $18 billion in sales and more locations than any other retailer in the U.S.

Dollar Tree will pay $74.50 a share in cash and stock, 23 percent above Family Dollar’s closing price at the end of last week, according to a statementBloomberg Terminal from the companies today. Including debt, the deal has a value of about $9.2 billion.