☰

Empresas y finanzas

ISS changes stance, backs Family Dollar-Dollar Tree deal


    (Reuters) - Proxy advisory firm Institutional Shareholder Services advised Family Dollar Stores Inc's shareholders to vote for the retailer's deal to be acquired by Dollar Tree Inc, reversing its previous recommendation.

    The Dollar Tree deal offers significant value and near certainty of closure, ISS said in a report on Wednesday.

    ISS had asked Family Dollar's shareholders in December to oppose the Dollar Tree offer and postpone a Dec. 23 meeting to vote on the deal.

    Family Dollar agreed last year to be bought by smaller rival Dollar Tree for $8.5 billion in cash and stock and rejected a sweetened hostile offer of $9.1 billion from Dollar General Corp.

    (Reporting by Ramkumar Iyer in Bengaluru; Editing by Kirti Pandey)