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Dollar General enters the bidding for Family Dollar

Dollar General enters the bidding for Family Dollar

Dollar General Corp. trumped a rival's bid for Family Dollar Stores Inc., offering $8.9 billion in cash for the discount retailer as industry leaders scramble to gain an edge in attracting customers who are still struggling financially. The offer Monday of $78.50 a share from the Goodlettsville, Tenn., company could spark a bidding war as Wall Street pushed Family Dollar's shares to $79.81. The new bid beat a deal reached last month with Dollar Tree Inc. of Chesapeake, Va. Many analysts expect Dollar Tree to sweeten its $8.5-billion deal for Family Dollar, possibly matching its competitor's price. "Let the games begin," said Joan Storms, retail analyst at...

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