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Dollar Tree to acquire Family Dollar
Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.
The deal was unanimously approved by the boards of both companies and involves Dollar Tree paying Family Dollar shareholders $59.60 in cash and $14.90 in equivalent Dollar Tree shares.
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Ascena seeks CFO
Ascena Retail Group began a search for a new CFO after its current EVP and CFO, Dirk Montgomery, resigned this week. As the company reviews potential new CFOs, Ascena board member and audit committee chair Randy Pearce, will have more involvement with the company’s finances.
Montgomery is expected to stay in his position until the fall, when he will move on to a Florida-based healthcare company, where he recently accepted an offer to be closer to his family.