Dollar General Extends Family Dollar Offer Again

In Reports, What's New, Industry News by Accessories Staff

With its smaller format, no frills approach, Dollar General is garnering an increasing number of U.S. shoppers, including those looking for apparel and accessories bargains.

With its smaller format, no frills approach, Dollar General is garnering an increasing number of U.S. shoppers, including those looking for apparel and accessories bargains.

Goodlettsville, TN–Dollar General isn’t giving up on Family Dollar. The retailer has extended its $80-ar-share offer yet again as its first extension expired at 5 pm on October 31. The renewed offer, which is otherwise unchanged, will expire at 5 pm East Coast time on December 31.

Family Dollar announced in July that it would be  acquired by rival Dollar Tree for $74.50 a share, or $8.5 billion. But then in August, Dollar General offered Family Dollar $9.7 billion, and was quickly rejected. Dollar General raised  to $80 a share in September and extended the offer on October 2.

Stifel Nicolaus & Co analyst Taylor Labarr said Dollar General’s decision to extend the tender offer was to allow Family Dollar shareholders time to make a decision after the special meeting.

“They (Dollar General) extended the offer through the end of the year, that covers them through the shareholder vote, which I think is the key thing,” Labarr said.

2014 ACE Awards Sparkle and Shine
Crocs Invites Superheroes, Princesses to Herald Square Store