Dollar General Corp raised its bid for Family Dollar Stores Inc by 2 percent to $80 per share, or $9.1 billion, and warned it may turn hostile and appeal directly to shareholders if the new offer was rejected. Dollar General also said it would pay a break-up fee of $500 million if deal ran foul of competition law, the reason Family Dollar had cited for its rejection the earlier offer and opting instead for an $8.5 billion cash-and-stock bid from Dollar Tree Inc . Family Dollar's shares were up almost 1 percent at $80.50 in premarket trading, above Dollar General's cash offer, suggesting some investors held hopes of higher offers. "In the event you refuse to engage with us regarding our revised proposal, we will consider taking our persuasive and superior proposal directly to your shareholders," Dollar General Chief Executive Rick Dreiling said in a letter to Family Dollar's board on Tuesday.
A record 4.1 million people in Syria received food rations in August due to more convoys being able to cross front lines and borders from Turkey and Jordan, the U.N.'s World Food Program (WFP) said on Tuesday. "We are reaching more people every day with urgently needed food assistance – many of them have been going hungry for months," Muhannad Hadi, WFP's regional emergency coordinator for the Syria crisis, said in a statement. Over the last six weeks, WFP and partner agencies have crossed front lines to reach more than 580,000 people, over four times the 137,000 reached in the preceding six weeks, it said. "Since July 25, a total of five cross-border convoys, via the Bab Al Salam crossing from Turkey and Al Ramtha from Jordan, carried food rations including rice, lentils, oil, pasta, bulgur, canned food, wheat flour, beans, salt and sugar for 69,500 people in the hard-to-reach areas of Aleppo, Idlib, Quneitra and Deraa governorates," the WFP statement said.