Dollar General goes hostile in bid for rival
Dollar General is going hostile with its $9.1 billion bid for Family Dollar after repeated rejections of previous offers by its rival.
The discount chain said Wednesday that it is offering investors of Family Dollar Inc. $80 per share in cash, the same offer that was rejected last week by the company board.
Family Dollar, based in Matthews, North Carolina, has voiced concerns about such a deal passing antitrust review.
In July, Family Dollar accepted an $8.5 billion offer from Dollar Tree Inc. That transaction includes $59.60 in cash and the equivalent of $14.90 in shares of Dollar Tree for each share held.
Family Dollar Stores Inc. has been exploring possible deals after experiencing some financial stress which has forced it to shutter stores and cut prices.