Dollar General Corporation affirmed its commitment to the acquisition of Family Dollar Stores in a statement to the media on Wednesday (Nov. 19).
The discounter said it is actively engaged in discussions with the Federal Trade Commission (FTC) regarding the extent of potential divestitures (4,000 stores) that would be required in connection with an acquisition of Family Dollar and has been making good progress.
“Dollar General will continue to work with the FTC and expects to provide an update in the coming weeks to allow Family Dollar shareholders sufficient time to review such information prior to the Family Dollar shareholders meeting now scheduled for Dec. 23, 2014,” the company named in is release.
Goldman, Sachs & Co. is acting as financial advisor to Dollar General. KKR Capital Markets and MCS Capital Markets are advising Dollar General on the financing. Simpson Thacher & Bartlett LLP is acting as its legal counsel.
Family Dollar thus far has opted to go with a lower cash and stock offer by Dollar Tree.