Dollar General Corp. is said to have agreed to an offer of about $6.9 billion from the private-equity firm Kohlberg Kravis Roberts & Co. to buyout the discount retailer.
The deal will still need to be approved by the Dollar General shareholders. The company’s board has recommended that its shareholders should vote for it and the company could close in the third quarter.
According to the deal the Kohlberg Kravis will pay $22 per share for each Dollar General share. KKR will also assume $380 million in debt as part of the deal.