Salina, KS

Now: 52 °

Currently: Fair and Breezy

Hi: 52 ° | Lo: 25 °

Alco Stores Enters into Agreement To Be Acquired

KSAL StaffJuly 25, 2013

Discount retailer Alco Stores Inc. has entered into an agreement to merge with private investment firm Argonne Capital Group LLC.

Alco said in a news release Thursday that Atlanta-based Argonne will acquire all the outstanding share of Alco Stores’ common stock for $14 per share in cash. The proposed transaction would total about $47 million.

Alco’s Board of Directors has unanimously approved the merger agreement and is recommending that shareholders approve it.

Alco, formerly known as Duckwall-Alco before changing its name last year, is in the process of moving from Abilene, Kan., to the Dallas suburb of Coppell. The company specializes in serving small towns and has 213 Alco stores in 23 states selling home furnishings, outdoor products, electronics sporting goods and clothing.

Copyright © Rocking M Media, 2021. All Rights Reserved. No part of this story may be reproduced without Rocking M Media’s express consent.

CATEGORIES :

RELATED POSTS



STAY IN TOUCH!

GET OUR APP!

LATEST POSTS

Tennis Fault Lines
January 18, 2021Comments
Lottery Jackpots Top $1.5...
January 18, 2021Comments
Beware of Stimulus Paymen...
January 18, 2021Comments
3 New Deaths, 103 New COV...
January 15, 2021Comments

LATEST TWEETS

Read all tweets