Dollar General extends Family Dollar tender offer to year end, advises shareholders to vote against Dollar Tree deal

GOODLETTSVILLE, Tenn. — Dollar General on Friday announced that it has extended its tender offer to acquire all outstanding shares of Family Dollar Stores for $80 per share in cash (including associated preferred share purchase rights) to 5:00 p.m., New York City time, on Dec. 31, 2014, unless further extended. 

 

In addition, Dollar General intends to file today the definitive proxy materials with the U.S. Securities and Exchange Commission for the Special Meeting of Shareholders of Family Dollar scheduled to be held on Dec. 11 to vote on the merger with Dollar Tree and to commence mailing of such definitive proxy materials to Family Dollar shareholders of record as of Oct. 30 on or about Nov.3.

 

Dollar General urges Family Dollar shareholders to vote the gold proxy card in order to vote against the merger agreement with Dollar Tree and the additional related proposals described in the definitive proxy materials and to tender their shares into Dollar General’s tender offer. A vote against the merger agreement with Dollar Tree will not obligate Family Dollar shareholders to tender their shares in the Dollar General tender offer, Dollar General noted. However, anyone desiring to participate in the Dollar General tender offer must tender their shares pursuant to the tender offer prior to the expiration date.

 

Dollar General remains committed to the proposed acquisition of Family Dollar and will continue to cooperate with the Federal Trade Commission to obtain antitrust regulatory clearance for the transaction.

 

Family Dollar shareholders who need additional copies of the tender offer statement, definitive proxy statement or related materials or who have questions regarding the offer or proxy solicitation should contact Innisfree M&A Incorporated, the information agent for the offer and the proxy solicitation.

 

Goldman, Sachs is acting as financial advisor to Dollar General. KKR Capital Markets and MCS Capital Markets are advising Dollar General on the financing. Simpson Thacher & Bartlett is acting as its legal counsel.