Dollar General Begins Cash Tender Offer To Buy Family Dollar At $80/shr

(RTTNews) - Dollar General Corp. (DG) announced that it has begun a tender offer to acquire all outstanding shares of Family Dollar Stores Inc. (FDO) for $80.00 per share in cash. The offer is scheduled to expire at 5:00 p.m., New York City time, on October 8, 2014, unless the offer is extended.

Dollar General also said it will promptly file for clearance under the Hart-Scott-Rodino ("HSR") Act, which will allow the Company to begin the antitrust approval process with the Federal Trade Commission or "FTC".

"Our offer provides Family Dollar shareholders with significantly greater value than the existing agreement with Dollar Tree, as well as immediate and certain liquidity for their shares..... "By taking this step, we are providing all Family Dollar shareholders a voice in this process, and we urge them to tender into our offer," said Rick Dreiling, Chairman and Chief Executive Officer of Dollar General.