Home / Knowledge / News / Apparel/Garments / Family Dollar confirms receipt of Dollar General proposal
Family Dollar confirms receipt of Dollar General proposal
03
Sep '14
NYSE-listed Family Dollar Stores confirmed that it has received a revised, non-binding, unsolicited proposal from Dollar General to acquire all of the outstanding common shares of Family Dollar.

Family Dollar said its Board of Directors, in consultation with its legal and financial advisors, will review and consider the revised proposal.

However, the retailer added that its Board has not changed its recommendation in support of the merger with Dollar Tree.

Family Dollar also said it will not comment further Dollar General’s proposal until the Board has completed its review.

Following a rejection of its earlier proposal of $78.50 per share, Dollar General sent an enhanced acquisition proposal for Family Dollar Stores on September 1.

Dollar General said it would increase its all-cash proposal for all outstanding shares of Family Dollar to $80.00 per share, up $1.50 per share from its first proposal.

On July 28, Dollar Tree had bid for Family Dollar in a cash and stock transaction at a consideration of $74.50 per share, a 22.8% premium over Family Dollar’s closing price as of July 25, 2014.

However on August 18, rival 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.

On August 25, the Board of Family Dollar, however recommended support of merger agreement with Dollar Tree, while rejecting the non-binding proposal made by Dollar General citing antitrust regulatory considerations. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: VF Corporation

Apparel/Garments | On 5th May 2016

VF Corp’s Q1 2016 revenue up 2% to $2.8 billion

VF Corporation reported a rise of 2 per cent in its total revenue to...

Textiles | On 5th May 2016

Brazilian cotton prices rise nearly 10% in April

Firm demand, decrease in supply from important cotton growing...

Apparel/Garments | On 5th May 2016

Kishore Biyani named Future Retail’s vice-chairman

Future Retail has appointed its Independent Director VK Chopra as...

Interviews View All

Humayun Kabir Salim
Dird Composite Textile Ltd

The importance of textile industry in the economy of Bangladesh is very...

Bob Mckee
Infor Global

How much are textile makers keen to spend on software? What are the future ...

Anurag Rajpal
American Swan Brand

How will the Union Budget 2014-15 do good to the Indian textile sector? Is ...

Mr G V Aras
A.T.E Enterprises Pvt Ltd

Armed with an M.Text and a Post Graduate Diploma in Marketing Management,...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Paige Mullis
Glen Raven Inc

<i><b>Paige Mullis</b> discusses the expansion plans of Glen Raven Inc in...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search