Dollar General Extends Tender Offer For Family Dollar Until Oct. 31

(RTTNews) - Dollar General Corp. (DG) announced that it has extended its tender offer to acquire all outstanding shares of Family Dollar Stores Inc. (FDO) for $80.00 per share in cash, including associated preferred share purchase rights, to 5:00 p.m. New York City time on October 31, 2014, unless further extended. The tender offer was previously set to expire at 5:00 p.m. New York City time on October 8, 2014.

All other terms and conditions of the tender offer remain unchanged.

As of 5:00 p.m. New York City time on September 30, 2014, 126,499 shares of Family Dollar common stock have been validly tendered into, and not withdrawn from, the tender offer.

Last month, Family Dollar rejected the improved bid from Dollar General for $80 per share, citing antitrust issues, and instead confirmed its recommendation for the lower bid from Dollar Tree (DLTR).

As part of the takeover, Dollar General said it would be willing to divest up to 1,500 stores, and pay Family Dollar a $500 million reverse break-up fee if the agreement did not close due to antitrust issues.

On September 10, Dollar General said it has begun a tender offer to acquire all outstanding shares of Family Dollar for $80 per share in cash. Dollar General also said it would promptly file for clearance under the Hart-Scott-Rodino, or HSR Act, which would allow the company to begin the antitrust approval process with the FTC.