Dollar Tree to buy Family Dollar for $8.5B

Dollar Tree Inc. announced it will acquire Family Dollar Stores Inc. in a cash-and-stock deal valued at about $8.5 billion, according to the Wall Street Journal.

The companies stated the combined company will continue to operate the Dollar Tree and Family Dollar brands with over 13,000 stores and sales topping $18 billion.

The combined company is expected to record about $300 million in synergies by the end of the third year following the deal's closing.

Read more from the Wall Street Journal.