Comment on Family Dollar Says “No Thanks” To Deep-Pocketed Suitor Dollar General’s Takeover Attempt

Family Dollar Says “No Thanks” To Deep-Pocketed Suitor Dollar General’s Takeover Attempt

(Steve Depolo)Well, we didn’t exactly see this one coming: Family Dollar has rejected the advances of potential suitor Dollar General and its $9.7 billion bid to buy the smaller dollar store. The New York Times reports that officials with Family Dollar cited “significant antirust issues” related to the offer as reason for its rejection. North Carolina-based Family Dollar, instead, will stick with its earlier $8.5 billion merger deal with Dollar Tree to create a company with more than 13,00 stores and annual revenues of $18 billion. “Our board reviewed, with our advisers, all aspects of Dollar General’s proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed,” Howard Levine, Family Dollar CEO, said in a statement.

 

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