Family Dollar files solicitation/recommendation statement; reaffirmed its recommendation of the Dollar Tree (DLTR) merger
After careful consideration, including a thorough review of the terms and conditions of the Offer with Family Dollar's financial and outside legal advisors, and consistent with its fiduciary duties under applicable law, the Board, by unanimous vote of all of its directors at meetings held on September 15, 2014, October 13, 2014 and November 10, 2014, reaffirmed its recommendation of, and declaration of advisability with respect to, the Dollar Tree merger, concluded that the Offer does not constitute and is not reasonably expected to lead to a "Company Superior Proposal" as defined in the Dollar Tree merger agreement and is not in the best interests of Family Dollar, and recommended that Family Dollar's stockholders reject the Offer and not tender their Shares pursuant to the Offer.