Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Family Dollar rejects Dollar General offer on antitrust worries

Send a link to a friend  Share

[August 21, 2014] (Reuters) - Family Dollar Stores Inc rejected Dollar General Corp's acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc.

"Our board reviewed, with our advisors, all aspects of Dollar General's proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed," Family Dollar's Chief Executive Howard Levine said in a statement.

He also said Dollar General's letter, sent late on Wednesday, "contained blatant mischaracterizations and did nothing to address the antitrust issues in Dollar General's proposal".

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Savio D'Souza)

[ 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Top Stories index

Back to top