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US: Judge told Family Dollar is unreasonable in dollar store buyout spat

 |  December 7, 2014

A federal judge has been told that Family Dollar is improperly refusing to negotiate with Dollar General and should not be allowed to proceed on a vote on whether to accept a Dollar Tree buyout, say reports.

Dollar General has been competing to acquire Family Dollar for $9.1 billion, but Family Dollar has denied the attempts and instead told its shareholders to accept a competing $8.5 billion offer fro Dollar Tree.

Now, Dollar General has told a federal judge that Family Dollar is being unreasonable in the matter; the company is now asking the court to block Family Dollar from a vote on the Dollar Tree deal until it has fully explored Dollar General’s competing offer.

Family Dollar is set to vote on the Dollar Tree offer on December 23, say reports; the merger would create the nation’s largest discount retail chain.

Full content: Bloomberg

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