Table of Contents
MATTHEWS, N.C. — Family Dollar Stores Inc. has set October 30 as the record date for determining which stockholders will be entitled to vote on the company’s proposed merger with Dollar Tree Inc.
Family Dollar Stores Inc. has set October 30 as the record date for determining which stockholders will be entitled to vote on the company’s proposed merger with Dollar Tree Inc.
Shareholders of record on that date will receive notice of, and will be entitled to vote at, a special meeting of shareholders called to consider the merger agreement. Family Dollar has not yet announced the date, time or location of the meeting.
The announcement came on the heels of a disclosure by the activist investor group Elliot Advisors Ltd. that it had acquired a 4.9% stake in Family Dollar, and wanted the company to be sold to Dollar General Corp.
To that end, the investment firm said it was nominating seven directors to Family Dollar’s board, arguing that its candidates would create an "even playing field" for Dollar General. Family Dollar’s current board has rejected Dollar General’s $80-per-share offer for the company, contending that antitrust issues would prevent the deal from being consummated. The board has supported Dollar Tree’s $74.50-per-share offer for the company.
