Massachusetts and 16 Other States Approve Dollar Tree Acquiring Family Dollar

Massachusetts and 16 Other States Approve Dollar Tree Acquiring Family Dollar

This Tuesday, Aug. 19, 2014 photo shows the Family Dollar store in Ridgeland, Miss. Family Dollar Stores Inc. Chairman and CEO Howard Levine said in a statement Thursday, Aug. 21, 2014, that its board and advisers reviewed Dollar General Corp.’s offer and determined it wasn’t reasonably likely to be completed on the terms proposed. (AP Photo/Rogelio V. Solis)
This Tuesday, Aug. 19, 2014 photo shows the Family Dollar store in Ridgeland, Miss. Family Dollar Stores Inc. (AP Photo/Rogelio V. Solis)

 

(Danvers Patch) – Massachusetts and 16 other states have reached a settlement with Dollar Tree, Inc., following their review of the company’s proposed acquisition of Family Dollar Stores, Inc., according to Massachusetts Attorney General Maura Healey.

The proposed merger combines two large national chains of deep discount stores. The deal is worth $8.5 billion.

In a settlement, filed in conjunction with a lawsuit in the federal district court for the District of Columbia, Dollar Tree will divest more than 300 Family Dollar stores nation-wide to a new competitor in order to complete the acquisition.

All of the affected stores, 21 of which are located in Massachusetts, will be sold and re-branded as Dollar Express stores, a new chain that will be launched by Sycamore Partners.

READ MORE