The fight for Family Dollar (NYSE:FDO) is heating up. Dollar General (NYSE:DG) has made a proposal to acquire Family Dollar Stores for $78.50 per share in cash, in a transaction valued at $9.7 billion.
Dollar General’s offer comes two weeks after Dollar Tree announced its bid for the chain in a deal valued at $8.5 billion. That deal was unanimously approved by both boards of directors, but Dollar General’s interest stalls that merger.
Dollar General was reportedly weighing interest in the chain last week. Stated reasons include solidifying Dollar General’s position as the largest small-format discount retailer with nearly 20,000 stores in 46 states and sales of over $28 billion and interest in Family Dollar’s management team.
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By Jarrett Neil Ridlinghafer
Founder & CEO/CTO Synapsesynergygroup.com
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