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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Dollar Tree Inc | NASDAQ:DLTR | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.95 | 0.79% | 120.73 | 117.37 | 120.91 | 121.27 | 119.95 | 120.13 | 1,471,111 | 01:00:00 |
From May 2019 to May 2024
Dollar Tree Inc. (DLTR) said it will acquire Family Dollar Stores Inc. (FDO) in a cash-and-stock deal that values the discount retailer's shares about at $74.50 a piece.
The deal price, a roughly 23% premium over Family Dollar's closing price on Friday, includes $59.60 in cash and $14.90 equivalent in Dollar Tree shares, the company said.
Family Dollar shares jumped 17% to $71.00 in recent premarket trading.
The deal comes as activist investor Carl Icahn has been pushing for a sale of Family Dollar, and threatening to replace the discount retailer's board.
Family Dollar, with more than 8,100 stores across the country, has been at a crossroads in its retail strategy. Early this year, Chief Executive Howard Levine said the chain was shelving a strategy that used price cuts on some items, while keeping others elevated, and instead would emulate the everyday low price model favored by rivals Dollar General Corp. (DG) and Wal-Mart Stores Inc. (WMT).
Write to Anna Prior at anna.prior@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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