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

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search