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Two proxy firms back Dollar Tree; Dollar General affirms efforts
Chesapeake, Va. – In the latest scene from the continuingly unfolding saga of the battle for Family Dollar, two proxy investment firms have switched their recommendation for Family Dollar shareholders to accept and $8.5 billion bid from Dollar Tree, rather than a $9.1 billion bid from Dollar General. Glass Lewis & Co. and Institutional Shareholder Services (ISS) both cited Dollar Tree’s bid as offering a greater likelihood of success, despite being lower.
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Dollar General threatens lawsuit in Family Dollar bid
Dollar General issued a statement Thursday indicating the company is having trouble winning support from the Federal Trade Commission on a $9.1 billion bid for Family Dollar Stores.
Dollar General said it would “defend litigation” if necessary.
The statement could give new momentum to Dollar Tree's $8.5 billion cash and stock competing bid for Family Dollar. Meanwhile, two proxy investment firms have switched their recommendation for Family Dollar shareholders to accept the Dollar Tree offer, rather than the bid from Dollar General.
