Family Dollar rejects bid from Dollar General

NEW YORK — Family Dollar has rejected a nearly $10 billion buyout bid from Dollar General, saying it’s sticking with an agreement to merge with Dollar Tree for less money.

Family Dollar said in a statement that its board rejected the Dollar General bid “on the basis of antitrust regulatory considerations.”

The Dollar General bid, at $78.50 per Family Dollar share, topped the offer from Dollar Tree of $74.50 per share, or about $8.5 billion.

Family Dollar CEO Howard Levine said that the board’s decision was unanimous and reaffirmed support for the pending merger with Dollar Tree.

Dollar General was not immediately available for comment.

Follow

Get every new post delivered to your Inbox.

Join 2,027 other followers