Family Dollar in $9.2 Billion Acquisition by Dollar Tree

July 29, 2014

Cleary Gottlieb is representing Family Dollar Stores, Inc. in its acquisition by Dollar Tree, Inc. for a combination of cash and stock. The transaction, valued at $9.2 billion, will combine two Fortune 500 companies to create North America’s leading discount retailer operating more than 13,000 stores with annual sales exceeding $18 billion. The deal was announced on July 28, 2014 and is expected to be completed by early 2015.

This transaction marks the culmination of a four and a half year client relationship that has included the adoption of shareholders rights plans on three different occasions, a publicly announced unsolicited takeover proposal that the Board rejected, and a revolving door of vocal activist shareholders with significant equity positions, including Trian, Pershing Square, John Paulson and Carl Icahn.