FTC Asks For Addl. Information From Dollar General Over Family Dollar Bid

(RTTNews) - Discount retailer Dollar General Corp (DG), which is trying to buy Family Dollar Stores Inc (FDO), said Friday it received a request for additional information from the Federal Trade Commission relating to its proposed acquisition.

The request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and is a standard part of the regulatory review process.

Family Dollar has been in the midst of a takeover struggle between Dollar Tree and Dollar General, whose offer it has repeatedly spurned.

In July, Family Dollar agreed to be acquired by Dollar Tree for $74.50 per share in a cash and stock deal valued at $9.2 billion. In August, Dollar General made a superior all-cash proposal to buy Family Dollar for $78.50 per share or $9.7 billion to thwart the Dollar Tree bid. But Family Dollar rejected the bid, citing antitrust regulatory considerations, and reaffirmed its merger deal with Dollar Tree.

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.

In a statement, Dollar General said it remains committed to the proposed acquisition of Family Dollar and will continue to cooperate with the FTC to obtain antitrust regulatory clearance for the deal.