The low-price retailer war is heating up: Dollar General made an all-cash bid of nearly $10 billion for Family Dollar, topping a deal Dollar Tree made last month.
Dollar General is bidding $78.50 per Family Dollar share, to total $9.7 billion.
Dollar General said the deal is superior to the $74.50 per share cash and stock offer Dollar Tree made last month. That deal has been valued at $8.5 billion.
Efforts to reach Family Dollar for comment were not immediately successful. The offer was made to the company’s board of directors.
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All three of the retailers are general store chains specialize in low-cost consumer goods. Dollar General describes itself as the largest discount retailer in the U.S., with more than 11,000 stores in 40 states.
