Wednesday, Oct 22, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

SeenTheLight1 - Despite record yields for farmers, Titan\'s Taylor sees down year for tires in 2015 - Quincy, IL New
Please re-read the article... it said a FLAT year. That means no expected growth and no expected losses.So spectulating and crying doom is very premature.
ONCEMORE1 - Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats - Quincy,
"After extensive testing, the machine was found to be performing as intended", Scalzitti went on to say..........;)
1950Brutus - Despite record yields for farmers, Titan\'s Taylor sees down year for tires in 2015 - Quincy, IL New
Layoffs probably inevitable but speculating on a move out of state or country is premature. As for your other questions I would refer you to Rosanne Rosanadanna - her first response would be "You sure ask a lot of questions for somebody from New Jersey". Sorry to the youngens out these who weren't exposed to Rosanne - very funny stuff.
Stupid_Dems - Strawman: I Trusted The President...... - Quincy, IL News - QuincyJournal.com
Seriously? This article is like saying the sun will come up in the morning! Hell yes he's a liar. End of discussion! Move along nothing to see!
ONCEMORE1 - Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats - Quincy,
Yep, calibration----that's what it is. Calibrated to elect the Dimmokrat NO MATTER WHAT!!

Most Popular

Authorities make meth bust on Madison

Adams Co. Divorces for 10/17

Nursing unions call for better Ebola preparedness

School Board to outline plans for savings, old buildings if referendum passes

Tournear Promoted to JWCC Nursing Admin Chair

Despite record yields for farmers, Titan's Taylor sees down year for tires in 2015

QU to Host Science Family Fun Night

Bill Clinton to address workers at pro-Quinn rally

Dollar Tree Buying Family Dollar for $8.5 Billion

2 months, 3 weeks ago from Associated Press

Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.

Stockholders of Family Dollar Stores will receive $59.60 in cash and the equivalent of $14.90 in shares of Dollar Tree for each share they own. The companies put the value of the transaction at $74.50 per share, which is an approximately 23 percent premium to Family Dollar's Friday closing price of $60.66.

The companies put the enterprise value of the deal, including debt and other costs, at more than $9 billion.

Family Dollar stockholders will own somewhere between 12.7 percent and 15.1 percent of Dollar Tree's outstanding common shares at closing. Shares spiked more than 24 percent and were headed for an all-time high before the opening bell Monday.

Shares of Dollar Tree neared an all-time high.

Core customers for bargain stores and major retailers like Wal-Mart have been among the hardest hit by the recession and its aftermath because of job instability.

Family Dollar has struggled and has attempted to reinvigorate sales by lowering prices on almost 1,000 basic items. It's cut some jobs and shuttered underperforming stores.

The company had been conducting a strategic review since the winter, and investor Carl Icahn urged Family Dollar last month to put itself up for sale. Icahn has built up a stake in the company of more than 9 percent, according to regulatory filings.

Dollar Tree CEO Bob Sasser said Monday that the deal will give Dollar Tree more than 13,000 stores in the U.S. and Canada. That is nearly three times as many stores as Wal-Mart Stores Inc., though Wal-Mart's square footage is still greater.

The companies did not say if any Dollar Tree or Family Dollar stores would be closed.

The combined Dollar Tree-Family Dollar chain will have sales of more than $18 billion and Sasser says that the transaction will create a more diverse company with an enhanced geographic reach.

Dollar Tree stores sell products for $1 or less, while Family Dollar's pricing is much broader.

Dollar Tree will continue to operate under the existing Dollar Tree, Deals, and Dollar Tree Canada store signs. It will keep the Family Dollar brand as well.

Family Dollar Chairman and CEO Howard Levine will still lead those stores and report to Sasser. He will join Dollar Tree's board.

Dollar Tree plans to finance the deal with available cash, bank debt and bonds.

The boards of both companies have unanimously approved the deal, which is expected to close by early next year. It still needs approval from Family Dollar shareholders.

Shares of Family Dollar Stores Inc., based in Charlotte, North Carolina, surged $14.89 to $75.55 in premarket trading. The record high during regular trading is $75.29. Shares of Dollar Tree Inc., based in Chesapeake, Virginia, jumped 10 percent, or $5.50 to $59.72. The all-time high for that stock is $60.19.


From the Newsroom

Bob Gough on Twitter

Bob Gough 22 minutes ago

RT @robneyer: Wait, someone's surprised that Randy Choate is highly specialized and pitches just 36 innings per season? http://t.co/JR5CPiv…
QuincyJournal on Twitter

QuincyJournal 33 minutes ago

Postseason high school soccer TONIGHT on QJTV - QHS travels to Edwardsville to take on Alton http://t.co/Uz1es0t6ae
QuincyJournal on Twitter

QuincyJournal 5 hours, 33 minutes ago

Quincy School Bond referendum videos http://t.co/UCdcGYtgqZ
QuincyJournal on Twitter

QuincyJournal 5 hours, 35 minutes ago

Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats http://t.co/ZGFJdbimJf