Family Dollar Board Rejects Revised Proposal From Dollar General - Quick Facts

(RTTNews) - Family Dollar Stores, Inc. (FDO) announced that its Board has unanimously rejected the revised, non-binding proposal made by Dollar General Corporation (DG) on September 2, on the basis of antitrust regulatory considerations.

Howard Levine, CEO of Family Dollar, said, "Our Board reviewed all aspects of Dollar General's revised proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process."

Family Dollar Stores noted that the Board's unanimous determination to reject Dollar General's revised proposal and to accept Dollar Tree's commitment to divest as many stores as required for antitrust approval follows the unanimous recommendation of a committee of four non-management independent directors that has been overseeing the company's consideration and exploration of strategic alternatives since January 2014.