Dollar General said Friday that it's extended its hostile bid for Matthews, N.C.-based Family Dollar until Dec. 31. The $80 per share, all-cash bid had been set to expire at the end of the day Friday. Family Dollar has rebuffed Dollar General's advances, with the company's board of directors turning down Dollar General's bids so far. Instead, Family Dollar's board wants to complete a previously announced acquisition by rival discount retailer Dollar Tree, which the companies agreed to in July. Family Dollar shareholders are set to vote on the Dollar Tree deal Dec. 11 in Charlotte.
On Wednesday morning, just hours after he wrapped up the State of the Union speech, President Obama will pay a visit to a Costco in Lanham, Maryland. There, he's likely to reinforce messages about raising the minimum wage and income inequality. It will hardly be the first time this administration has held up the discount behemoth as a model of corporate success. In his speech on the economy back in July, Obama hailed Costco as a company that "pays good wages and offers good benefits," proving "that this isn't just good for their business, it's good for America."