A former official at the US Federal Trade Commission has been hired by Dollar General to encourage Family Dollar to proceed with a proposed merger after Dollar General upped its offer to acquire the company.
Dollar General increased its bid to $9.1 billion after Family Dollar responded to the offer with resistance. According to reports, Family Dollar is still recommending a merger with third rival, Dollar Tree, which it considers to hold lower antitrust risk than a deal with Dollar General.
Now, Dollar General has hired Richard A. Feinstein, a former FTC official and current partner at Boies, Schiller & Flexner to encourage Family Dollar to accept a deal.
Feinstein was the director of the regulator’s Bureau of Competition for four years until earlier this year. According to reports, it is rare for a company to so publically hire a former regulatory official to aid with a private merger.
Full content: The Street
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