Family Dollar Rejects Dollar General Bid

familydollarFamily Dollar points to antitrust regulatory considerations in declining Dollar General’s higher all cash buyout offer.

Family Dollar has rejected a nearly $10 billion buyout bid from Dollar General, instead planning to proceed with its original agreement to merge with Dollar Tree, CNN reported.

Family Dollar said in a statement that its board rejected the Dollar General bid “on the basis of antitrust regulatory considerations.”

The Dollar General’s all cash bid, at $78.50 per Family Dollar share, was higher than the offer from Dollar Tree, which totaled $74.50 per share, or about $8.5 billion through a combination of cash and stock.

Family Dollar CEO Howard Levine told CNN that the board’s decision was unanimous and he reaffirmed support for its pending merger with Dollar Tree.