Dollar General comments on debt tender offer by Buck Acquisition

16 Jun '07
2 min read

Dollar General Corporation announced that its Board of Directors had unanimously confirmed a decision to express no opinion and remain neutral toward the offer by Buck Acquisition Corp. on June 4, 2007 to purchase any and all of Dollar General's outstanding 8 5/8% Notes due 2010 and the related consent solicitation.

The tender offer and related consent solicitation were contemplated by Dollar General's previously announced agreement and plan of merger (the "Merger Agreement") dated March 11, 2007 with Buck Holdings, L.P, a Delaware limited partnership ("Parent"), and Buck Acquisition Corp, a Tennessee corporation and wholly owned subsidiary of Parent, pursuant to which Buck Acquisition Corp will merge with and into Dollar General (the "Merger"). Buck is indirectly controlled by investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P.

The Company indicated that its Board of Directors believes that each noteholder should make its decision as to whether to tender on an individual rather than a collective basis, based on that noteholder's particular circumstances.

The Company further indicated that its Board believes the determination whether to tender is a financial decision to be made by each noteholder, in consultation with the noteholder's financial advisor, based on the terms of the offer and the cash price being offered by Buck Acquisition Corp.

For these reasons, the Company believes that it is not appropriate for it to makea recommendation to noteholders regarding the tender of their notes and, as indicated in the offering documents, expresses no opinion as to the course of action that noteholders should take.

The announcements contained in this press release were made pursuant to Rule 14e-2 under the Securities Exchange Act of 1934.

Dollar General Corporation

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