Dollar General makes $9.7B bid for Family Dollar

The dollar-store bid battle is heating up.

Dollar General bid $9.7 billion for Family Dollar, it said Monday, outpacing a prior offer of $8.5 billion made by Dollar Tree in late July, according to USA Today.

"For Family Dollar shareholders, our proposal is financially superior to the current transaction agreement with Dollar Tree and would provide Family Dollar shareholders with a substantial premium and immediate liquidity for their shares," said Rick Dreiling, Dollar General's chairman and CEO.

Read more from USA Today.