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

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Prime Minister Narendra Modi dedicating the Deendayal Hastkala Sankul to the nation, in Varanasi, Uttar Pradesh on September 22, 2017. Courtesy: PIB

Textiles | On 25th Sep 2017

Handicrafts trade facilitation centre opens in Varanasi

Prime Minister Narendra Modi dedicated the Deendayal Hastkala Sankul, ...

Apparel/Garments | On 25th Sep 2017

AAFA urges US govt to plug lacunae in military procurement

The American Apparel & Footwear Association (AAFA), an alliance of...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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

Active Poll

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

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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