Dollar General Extends Tender Offer For Family Dollar Shares

MarketWatch Pulse

Dollar General Corp. said on Tuesday that it was extending its tender offer to buy all of Family Dollar Stores Inc.'s outstanding shares until Jan. 30. The tender offer was previously set to expire on Dec. 31, at 5 p.m. Eastern. The extension comes after a special meeting of Family Dollar shareholders to vote on the discount retailer's merger agreement with Dollar Tree Inc. was adjourned to Jan. 22, because of insufficient votes. Dollar General said as of Dec. 22, about 3.4 million Family Dollar shares have been tendered. That represents about 3% of the weighted-average Family Dollar shares outstanding at the end of the fiscal fourth quarter on Aug. 30. Dollar General's stock was gaining 1.5% in midday trade, while Family Dollar's was up 0.4%.

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