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Dollar General offers $9.7 billion for Family Dollar, outbids Dollar Tree
Goodlettsville, Tenn. -- The battle between the extreme discounters is heating up: Dollar General Corp. said Monday it has made an all-cash bid of $9.7 billion for Family Dollar, topping a deal Dollar Tree made last month. Dollar General is bidding $78.50 per Family Dollar share, which includes a $2.26 per share premium over Family Dollar’s closing price on Friday. The offer is $4 higher per share than the $8.5 billion deal with Dollar Tree.
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Dollar General outbids Dollar Tree for Family Dollar
Dollar General bid $78.50 for Family Dollar Monday morning in a $9.7 billion deal that exceeds the $74.50 a share Dollar Tree offered for Family Dollar on July 28.
The deal would create a small format powerhouse with nearly 20,000 stores in 46 states and sales of more than $28 billion.