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Dollar General bids $8.9 billion for Family Dollar, topping rival move
Dollar General bids $8.9 billion for Family Dollar, topping rival move

Dollar General Corp. launched a bidding war for Family Dollar Stores on Monday, offering $8.9 billion for the chain and besting rival Dollar Tree's bid last month. Three weeks after Dollar Tree offered $74.50 a share, or about $8.5 billion for Family Dollar, Dollar General said it would pay $78.50 a share in cash. "Our proposal is financially superior to the current transaction agreement with Dollar Tree and would provide Family Dollar shareholders with a substantial premium," said Rick Dreiling, Dollar General's chief executive. News of the bid by Dollar General sent its shares up 9.5% to $62.94 about three hours into Monday's trading session. Family Dollar...

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