Rush Limbaugh
Weekdays, Noon - 3pm

Text Us: #30930
Phone: (800) 616 WBEN
Business: (716) 843-0600
| More
Dec 19, 6:50 PM EST

Judge: Family Dollar can vote on Dollar Tree buyout


Business Video

Buy AP Photo Reprints
Multimedia
A History of U.S. Currency

DOVER, Del. (AP) -- A Delaware judge says stockholders of Family Dollar Stores Inc. can vote on proposed $8.5 billion acquisition by Chesapeake, Virginia-based Dollar Tree Inc.

Family Dollar shareholders are to vote on the acquisition Tuesday. But some Family Dollar shareholders want the vote postponed until the board reviews a deal with Dollar General Corp., which has also bid for Matthews, North Carolina-based Family Dollar.

The judge ruled Friday that Family Dollar's board acted reasonably in not negotiating with Dollar General, which is based in Goodlettsville, Tennessee, because of antitrust risks and uncertainty that regulators would approve the deal.

Family Dollar and Dollar General have similar business models, selling items at prices generally ranging from $1 to $10, while Dollar Tree prices all items at $1 or less.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

Poll
How long do you think the Corasanti jury will deliberate before reaching verdicts?
  Hours.
  A day or two.
  Several days.
 
View Results

Get it Now

WBEN iPhone App

Perks

Contests

Photo Galleries

RSS Center