Deals
Dollar General Takes Family Dollar Offer to Shareholders
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Dollar General Corp., spurned twice in attempts to buy Family Dollar Stores Inc., took its $9.1 billion offer directly to shareholders in a hostile bid.
Dollar General, based in Goodlettsville, Tennessee, has commenced an offer for all Family Dollar shares at $80 each, according to a statement today. The move follows Family Dollar’s rejection of an acquisition proposal at that price last week. The takeover target has accepted a lower bid from Dollar Tree Inc. instead, saying that deal will more easily gain regulatory clearance.