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US: Dollar store takeover wars turn ugly

 |  September 14, 2014

Investors of Family Dollar have reportedly won a motion to fast-track a lawsuit against a proposed buyout of the company by rival Dollar Tree, arguing that the company has only given shareholders a few weeks to challenge the deal.

The lawsuit comes as Family Dollar simultaneously fields aggressive buyout offers from third rival, Dollar General, which has recently decided to go hostile with its $9.1 billion offer.

Family Dollar, however, has been keen to finalize the $8.5 billion takeover by Dollar Tree, and the company’s plans to close the deal by November has left some shareholder disgruntled.

Lawsuits have been filed to delay the closure of the buyout so shareholders can have time to present their case against the deal, say reports. Family Dollar recently won an appeal to fast track the exchange of merger documents.

Full content: Business News Americas

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