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

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Textiles | On 8th Dec 2016

R&D is key to textile industry’s growth: Kavita Gupta

Research and development is the key to the growth of the textiles...

Textiles | On 8th Dec 2016

Indonesia may ease procedures for raw material import

In order to boost the competitiveness of the domestic textile...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search