Family Dollar rejects US$9.7 bil. takeover bid from Dollar General
August 23, 2014, 12:01 am TWN
WASHINGTON--Discount chain Family Dollar rejected a US$9.7 billion takeover bid by larger rival Dollar General Thursday, saying the tie-up could run afoul of U.S. anti-monopoly rules.
Dollar General launched a bidding war Monday for Family Dollar Stores, trumping a US$9.2 billion Dollar Tree merger deal agreed just weeks ago
But Family Dollar's board said it judged that, “after consultation with its financial and legal advisors who have conducted an extensive antitrust analysis,” the higher bid would not have been completed on the basis that Dollar General had proposed.