Dollar General extends tender offer to Family Dollar for a second time

Goodlettsville, Tenn. --Dollar General Corp extended its $80-a-share tender offer to acquire rival Family Dollar Stores Inc. from Oct. 31, 2014, to Dec. 31, 2014, unless further extended. It is the second time Dollar General has extended its offer.



About 4 million shares, or some 3.6% of Family Dollar's total share capital of about 114 million, had been validly tendered into the offer as of Oct. 30, Dollar General said in a statement.



The new expiration date runs past Family Dollar's special meeting of shareholders, scheduled to occur on Dec. 11, to vote on its merger with Dollar Tree.



In its statement extending its tender offer, Dollar General urged Family Dollar shareholders to vote against the Dollar Tree deal. The chain said such a vote would send "a clear message to the Family Dollar board to promptly engage in discussions with Dollar General." It also noted that 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.



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