ALCO Stores Enters Into Agreement to Be Acquired

Discount retailer ALCO Stores 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.