Every now and then a piece of news comes across my desk that is not tech related that I simply have to report. The Dollar Tree, appending approval, will buy out its biggest rival, Family Dollar, for a cool $8.5 million and will operate approximately 13,000 stores in the US and Canada.
The Associated Press reports that those who hold stock in Family Dollar will receive $59.60 in cash and $14.90 in shares of Dollar Tree according to each share they own. The enterprise value of the deal, which includes debt and plenty of other costs, is priced at more than $9 million.
As of now, executives will keep both companies operating separately. The Dollar Tree sells items for $1 or less while Family Dollars pricing is much more broad. Recent estimates project the newly combined company as having sales upward towards $18 billion.
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