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Family Dollar confirms hostile bid from Dollar General
12
Sep '14
Following the hostile bid made by Dollar General to acquire Family Dollar Stores, Family Dollar confirmed that Dollar General has commenced an unsolicited conditional tender offer to acquire all of the common stock of Family Dollar for $80.00 per share in cash.

Family Dollar said, “The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the board of directors of Family Dollar rejected unanimously on September 5, 2014 on the basis of antitrust regulatory considerations”.

“Family Dollar’s Board of Directors will review and consider Dollar General’s tender offer in accordance with applicable law and following this review consideration, we will advise shareholders of the Board’s position regarding the tender offer”, Family Dollar added.

Family Dollar informed its shareholders by saying that its Board has not changed its recommendation in support of the merger with Dollar Tree, Inc.

After being spurned twice by Family Dollar, Dollar General launched a hostile bid to acquire all outstanding shares of Family Dollar Stores for $80.00 per share in cash. Last week, the Family Dollar Board had once again rejected the new proposal by again citing anti-trust regulations. (AR)

Fibre2fashion News Desk - India

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