Under the revised proposal, Dollar General is willing to sell up to 1,500 stores if required by the Federal Trade Commission, even though it feels its pledge to divest 700 stores in its prior proposal provides more than enough cushion to clear any regulatory review.
Dollar General said it hired Richard Feinstein of Boies, Schiller & Flexner to independently review the company's antitrust work. Until June 2013, Feinstein was the director of the FTC's Bureau of Competition. Feinstein concurred with the view that the transaction could be completed on the terms previously proposed, the company said.
Shares of Family Dollar moved higher in premarket trading following the report. (Click here for the latest quote.)