Revco wins Big B with sweetened offer; merger to add 397 stores to Revco.
This article was originally published in The Rose Sheet
REVCO PAYING $358.8 MIL. TO BUY OUT BIG B after the two drug store chains reached a merger agreement Oct. 27. Revco will pay $17.25 per share for the 22 mil. Big B shares outstanding, giving the merger a total equity value of $380 mil. Revco already owns approximately 1.2 mil. of those shares, acquired via open market purchases in anticipation of its takeover bid.
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