Dollar General releases statement on Family Dollar rebuff

GOODLETTSVILLE, Tenn. — Dollar General released a statement regarding its proposed acquisition of Family Dollar, following the news of Family Dollar's rejection of the proposal.

“We are disappointed that the Family Dollar Board of Directors has concluded that our proposal is not reasonably expected to lead to a superior proposal without informing itself of all relevant information,” said Rick Dreiling, Dollar General’s chairman and CEO. “We have done extensive antitrust analysis using experienced advisers, the results of which confirm that the transaction as proposed is capable of being completed. We remain willing to share this analysis with Family Dollar and its counsel and are confident that we will be able to quickly and efficiently resolve any potential antitrust issues.”

Dreiling went on to say that Dollar General is reviewing its options: "Our existing all-cash proposal coupled with manageable antitrust issues continues to make our proposal superior to the current transaction agreement with Dollar Tree.”

Goldman, Sachs & Co. is serving as financial adviser to Dollar General; Simpson Thacher & Bartlett LLP is acting as its legal counsel.

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