Dollar General : Remains Actively Engaged In FTC Regulatory Review Process

(RTTNews) - Dollar General Corp. (DG) said Friday that it remains actively engaged in discussions with the Federal Trade Commission regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar Stores, Inc. (FDO).

Dollar General noted that it does not expect to provide any further update prior to the Family Dollar shareholders meeting currently scheduled for December 23, 2014.

In late July, Dollar Stores agreed to be bought by Dollar Tree for $74.50 per share in a cash, with the stock deal valued at $9.2 billion. However, on August 18, Dollar General made a superior all-cash proposal of $78.50 per share or $9.7 billion to thwart the Dollar Tree bid.

Family Dollar rejected Dollar General's offer on the basis of antitrust regulatory considerations. Later, Dollar General sweetened its offer by $1.50 to $80.00 per share, and also raised the number of stores it was willing to divest if ordered by the Federal Trade Commission or FTC. Nevertheless, Family Dollar remains firm in its agreement to be acquired by Dollar Tree.