Home / Knowledge / News / Apparel/Garments / Dollar General commits to acquiring Family Dollar
Dollar General commits to acquiring Family Dollar
25
Aug '14
Dollar General reaffirmed its commitment to acquisition of Family Dollar, confident that it can quickly and effectively address any potential antitrust issues and reiterated that its existing proposal provides superior valuation to Family Dollar shareholders.

The Board of Directors of Family Dollar Stores, Inc had late last week, recommended support of merger agreement with Dollar Tree, while unanimously rejecting the non-binding proposal made by Dollar General Corporation citing antitrust regulatory considerations.

In a statement, Howard Levine, CEO of Family Dollar had said, “I would like to note that a letter sent by Dollar General, contained blatant mischaracterizations and did nothing to address the antitrust issues raised by Family Dollar.”

The Family Dollar statement had also recommended support of merger agreement with another bidder - Dollar Tree.

In its latest press release, Rick Dreiling CEO at Dollar General said, “We are disappointed that the Family Dollar BoD has concluded that our proposal is not reasonably expected to lead to a superior proposal without informing itself of all relevant information."

He added, "We have done extensive antitrust analysis using experienced advisers, which confirm that the transaction as proposed is capable of being completed. We are willing to share this analysis with Family Dollar with the confidence that any potential antitrust issues will be resolved."

Rick Dreiling continued, "We are carefully reviewing and considering our options. Our existing all-cash proposal coupled with manageable antitrust issues continues to make our proposal superior to the current transaction agreement with Dollar Tree."

Earlier this month, after Dollar Tree proposed acquiring Family Dollar, Dollar General said it will pay $78.50 per share in cash in a transaction valued at $9.7 billion to Family Dollar shareholders, substantially up from $74.50 per share cash / stock offered by Dollar Tree.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X