Here We Go: Dollar General Files for $750M IPO
Discount retailer Dollar General late this afternoon filed for its IPO, with a $750 million target and nine listed underwriters (including KKR -- so much for worries that it was trying to dis-intermediate Wall Street). We've been expecting this filing for a while, but that doesn't diminish its importance. Dollar General is a charter member of the buyout boom, getting taken private just 25 months ago by KKR for $7.2 billion. The deal included $2.8 billion in equity from KKR and its co-investors, which the firm recently said had been marked up to approximately $4.75 billion. In other words, this is considered one of the good ones. Part of this is basic counter-cyclicality. After all, what cash-strapped family doesn't want 18 rolls of Quilted Northern toilet paper for just $5? But KKR folks also argue
