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Dollar General outbids Dollar Tree for Family Dollar

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Posted at 7:23 AM, Aug 18, 2014
and last updated 2014-08-18 09:52:37-04

NEW YORK (CNNMoney) — The low-price retailer 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.

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