Dollar General Sale OK’d; CEO to Resign

GOODLETTSVILLE, Tenn. — Shareholders of Dollar General here yesterday voted to approve the $6.9 billion takeover offer from Kohlberg Kravis Roberts. The approval paves the way to close the deal on or around July 6, at which time David Perdue, Dollar General’s chief executive officer, is expected to resign from the company, Dollar General said. David L. Bere, currently president and chief operating officer, is expected to take over as interim CEO while a search for a permanent successor is undertaken. The Dollar General board of directors did not recommend that its shareholders vote for or against the KKR deal, which was expected to load the company with about $5.4 billion in debt.

Read More of Today's Headlines