Dollar General Extends Tender Offer For Family Dollar Shares, Again

Dollar General on Friday extended the expiration of its tender offer for all of Family Dollar shares for a second time, this time to Dec. 31, as less than 4% of the shares have been validly tendered so far. The original tender of $80 a share, announced on Sept. 10, was set to expire on Oct. 8, but was extended to Oct. 31. Dollar General said the terms of the tender offer remain unchanged. As of 5 p.m. ET on Thursday, 4,097,475 common shares of Family Dollar were tendered, or 3.6% of the 114.31 million shares outstanding as of Aug. 30. The new expiration runs past Family Dollar's special meeting of shareholders, scheduled for Dec. 11, to vote on its merger with Dollar Tree . The stocks of Dollar General and Family Dollar, which are still inactive in premarket trade, are up 3.5% and 20%, respectively, so far this year through Thursday, compared with a 7.9% gain in the S&P 500.