Dollar General outbids Dollar Tree for Family Dollar

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.

The-CNN-Wire
™ & © 2014 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Follow

Get every new post delivered to your Inbox.

Join 15,930 other followers