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Dollar General extends tender offer to buy Family Dollar
03
Nov '14
NYSE-listed Dollar General Corp said it remains committed to acquiring rival Family Dollar and also extended its offer to acquire all outstanding shares of Family Dollar Stores, Inc.

Dollar General will tender $80.00 per share in cash, including associated preferred share purchase rights till 5:00 PM on December 31, 2014, unless further extended.

The tender offer had expired at 5:00 p.m., New York City time, on October 31, 2014.

In addition, Dollar General also intends to file definitive proxy materials with the U.S. Securities and Exchange Commission (SEC) for the special meeting of Family Dollar shareholders scheduled on December 11, 2014, to vote on the merger with Dollar Tree.

It will also commence mailing of such definitive proxy materials to Family Dollar shareholders of record as of October 30, 2014, on or about November 3, 2014.

In a statement, Dollar General urged Family Dollar shareholders to vote the GOLD proxy card in order to vote against the merger agreement with Dollar Tree and to tender their shares into Dollar General's tender offer.

Dollar General said, by voting the Gold proxy card and by tendering their shares into Dollar General's tender offer, Family Dollar shareholders will be sending a clear message to the Family Dollar Board to promptly engage in discussions with Dollar General.

“A vote against the merger agreement with Dollar Tree will not obligate Family Dollar shareholders to tender their shares in the Dollar General tender offer,” the retailer added.

“However, anyone desiring to participate in the Dollar General tender offer must tender their shares pursuant to the tender offer, prior to the expiration date,” Dollar General told shareholders.

Dollar General has informed that as of as of October 30, 2014, 4,097,475 common shares of Family Dollar had been validly tendered into, and not withdrawn from, the tender offer.

It said it also remains committed to the proposed acquisition of Family Dollar and will continue to cooperate with the Federal Trade Commission (FTC) to obtain antitrust regulatory clearance for the transaction.

Dollar General with more than 11,500 stores in 40 states has more retail locations than any retailer in America. (AR)

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