Dollar General CEO: Retailer is ‘committed as ever’ to Family Dollar acquisition

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Dollar General Corp. (NYSE:DG) is working with the Federal Trade Commission to gain approval to acquire Family Dollar Stores Inc. (NYSE:FDO).

Jennifer Thomas

Staff Writer- Charlotte Business Journal

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Dollar General Corp. CEO Rick Dreiling isn't backing down when it comes to his company's hostile takeover bid to acquire Family Dollar Stores Inc.

"We remain as committed as ever to this acquisition," Dreiling said during Dollar General's (NYSE:DG) fiscal third-quarter earnings call on Thursday morning.

Dreiling provided a brief update about where Dollar General stands with its efforts to acquire the Matthews-based discount retailer (NYSE:FDO).

Dollar General continues to work with the Federal Trade Commission to address any potential antitrust concerns a Dollar General-Family Dollar merger might present. Dollar General has provided tens of thousands of documents and had valuable and productive discussions, Dreiling noted.

"We're working hard to be in a position to complete this transaction and begin the process of combining our two companies," he said.

Thus far, Dollar General has spent $8.2 million related to its proposed acquisition of Family Dollar. It also has delayed share repurchases pending the outcome of those efforts.

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Jennifer Thomas covers retail, health care and education for the Charlotte Business Journal.