KKR to Buy Dollar General for $7.3 Billion

GOODLETTSVILLE, Tenn. -- Dollar General here on Monday said it had entered into an agreement to be acquired by affiliates of buyout firm Kohlberg Kravis & Roberts in a deal worth $7.3 billion, including $380 million in debt. Dollar General shareholders are to receive $22 in cash for each share -- representing a 31% premium over its closing price Friday. The deal is expected to close in the third quarter. Dollar General has been the source of takeover rumors for some time, although interest was thought to have waned recently when the company said it would take charges to close 400 stores in a restructuring. In a statement, a KKR spokesman said Dollar General is “an outstanding company with a strong market presence and a rich legacy.”