Dollar General Corp. has entered the bidding for Family Dollar Stores Inc. with a deal worth $9.7 billion.
The offer is an all-cash proposal at $78.50 a share. Dollar General sent a letter to Family Dollar’s board this morning and still needs to conduct due diligence before submitting a definitive merger agreement. And while Dollar General will need to divest up to 700 stores to garner the requisite antitrust approval, the retailer said that’s a comparable percentage to the 500 stores Dollar Tree agreed to divest to complete its transaction with Family Dollar.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"