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One Dollar Store Buys Another

One dollar store is buying another for much more than a dollar.

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

The companies put the value of the transaction at $74.50 per share.

The boards of both companies have unanimously approved the deal, which is expected to close by early next year.

Family Dollar Stores Inc., are based in Charlotte, North Carolina, and Dollar Tree Inc., is based in Chesapeake, Virginia.

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