Dollar General sets special meeting date for June 21; shareholders to decide merger with equity firm

By Lisa Kerner

Charlotte, N.C., May 16 - Dollar General Corp. will hold its special meeting of shareholders on June 21 at 10 a.m. ET in Goodlettsville, Tenn., to vote on a proposed merger agreement with affiliates of Kohlberg Kravis Roberts & Co. LP.

Shareholders of record as of May 18 will be entitled to vote at the special meeting, according to a company news release.

The agreement calls for the discount retailer's shareholders to receive $22 per share in a transaction valued at about $7.3 billion, including roughly $380 million of net debt.

A $225 million termination fee is included in the deal, and the transaction is expected to close in the third quarter of 2007.

Goldman Sachs and Lehman Brothers committed debt financing for the transaction.

Kohlberg Kravis Roberts is a New York-based private equity firm.

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