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Family Dollar delays vote on Dollar Tree deal; Dollar General still in the game


Goodlettsville, Tenn. - Dollar General Corporation isn’t giving up. The deep discounter on Wednesday affirmed its commitment to the acquisition of rival Family Dollar Stores. Dollar General’s comments followed the news that Family Dollar has delayed its shareholder vote on its $8.5 billion deal to be bought by Dollar Tree Inc. from Dec. 11 to Dec. 23.

Family Dollar said it expects an update by the end of the first week of December on the Federal Trade Commission’s review of the merger. The company said that the meeting was rescheduled so shareholders would have enough time to review any additional information they receive prior to the meeting.

Dollar General said it is actively engaged in discussions with the Federal Trade Commission regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress.

The retailer said it will continue to work with the FTC and expects to provide an update in the coming weeks to allow Family Dollar shareholders sufficient time to review such information prior to the Family Dollar shareholders’ meeting in late December.

In July, Dollar Tree agreed to buy Family Dollar for $8.5 billion. Dollar General Corp. made a $9.1 billion bid, which Family Dollar's board rejected. Dollar General then took its offer directly to Family Dollar shareholders, but it has garnered minimal support to date.
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