Dollar Tree Inc. has finally taken over Family Dollar Stores Inc.!
The merging plans of the two retail giants were declared on the late July 2014. Finally, the CEOs decided a merging and Dollar Tree Inc. finally took over Matthews based Family Dollar Stores Inc on July 6th 2015, just in a year!
Dollar Tree CEO Mr. Bob Sasser is optimistic about the merging and he is looking forward to outstanding business opportunities as he said the “transformational opportunity” will open a new horizon for their business in a much broader and bigger platform. They will be producing more compelling merchandise assortments to the wide array of customers looking for great value stuff in the Dollar Tree Shops.
As a matter of fact , Dollar Tree is now intending to reach the low-income masses in a broader way by showcasing outstanding and appealing stuff that they can get in minimum rates ever. This is how they will be “strengthening and diversifying” their footprint.
As the stock rates climbed up- the deal price was also increased from $8.5 billion to $10 billion. The Dollar Tree has also agreed to offer shed to 330 Family Dollar stores and private-equity firm Sycamore Partners.
The combined business will run over 13,000 stores across 48 states and 5 Canadian provinces with an estimated sales quotient of $19 billion annually.
The Terms and Agreement says that the Family Dollar shareholders will be receiving $59.60 in cash & about 0.2484 of a share of the Dollar Tree. It is expected that from this huge merging, the company will definitely rise.