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US: Family Dollar urges official rejection of Dollar General bid

By  |  September 17, 2014

Family Dollar has officially urged its shareholders to reject Dollar General’s $9.1 billion hostile takeover offer in favor of accepting Dollar Tree’s $8.5 billion purchase of the discount chain, reports say.

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    The move comes only days after Dollar General, after repeated rejections, decided to go hostile with its takeover efforts. Reports say Family Dollar prefers to merge with Dollar Tree because it believes there would be fewer competition concerns involved in earning regulatory approval for the deal.

    Even Dollar General’s willingness to divest 1,500 stores and offer a $500 million breakup fee to Family Dollar should the transaction fail to gain clearance was not enough to convince the chain to accept the offer.

    Full content: USA Today

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