- Citing antitrust concerns, the Family Dollar (NYSE:FDO) board rejects Dollar General's (NYSE:DG) latest bid, which came at a 7.4% premium to Dollar Tree's (NASDAQ:DLTR) buyout price.
- "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," says Family Dollar boss Howard Levine.
- Family Dollar and Dollar Tree amend their merger agreement, with Dollar Tree committing to divest as many stores as necessary to receive antitrust clearance. The two also accelerate their expectations for closing the deal to as early as the end of November.
- FDO -0.8%, DG -1.4%, DLTR -1.4% premarket