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Dollar Tree and Family Dollar receive FTC request

NEW YORK (AP) — Dollar Tree Inc. said Tuesday that it has received a request from the Federal Trade Commission for more information about its proposed takeover of Family Dollar Stores Inc.

The two discount retailers said they expect to receive regulatory approval for the deal and expect it to close as early as the end of November.

Dollar Tree, based in Chesapeake, Virginia, offered to buy Family Dollar for about $8.5 billion in July.

Rival Dollar General has offered two larger bids for the Charlotte, North Carolina-based Family Dollar, but both bids have been rejected by Family Dollar which says said it would be hard to get regulators to approve the deal. The larger of those bids was about $9.1 billion.

Dollar General is based in Goodlettsville, Tennessee.

Shares of Family Dollar rose 5 cents to $78.87 in morning trading Tuesday. Dollar Tree shares added a penny to $55.55 and Dollar General shares slipped 21 cents to $63.18.

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