Retail
Dollar General Takes Its Offer to Family Dollar Shareholders
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Dollar General on Friday morning filed definitive proxy materials with the U.S. Securities and Exchange Commission (SEC) and said that it will mail these materials next week to Family Dollar stockholders of record as of October 30. The materials urge Family Dollar shareholders to vote against the Dollar Tree offer.
Dollar Tree made an offer equal to $74.50 a share in July and has not budged through two counteroffers from Dollar General, which now has bid its offer up to $80 a share in cash. Family Dollar has rejected both offers claiming that a merger between the two is likely to be denied regulatory approval.
Dollar General stock rose 1.3% in the opening minutes of trading on Friday to $63.35, in a 52-week range of $53.00 to $65.99.
Family Dollar shares were up about 0.2%, at $78.00 in a 52-week range of $55.64 to $80.97.
Dollar Tree shares jumped more than 2% to a new 52-week high of $61.00. The 52-week low is $46.59.
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