Dollar General not quitting on bid for Family Dollar

In its second-quarter earnings release, Dollar General CEO and Chairman Rick Dreiling said the company remains focused on buying Family Dollar, despite the latter rejecting its bid earlier this month.

"In regards to our proposal to acquire Family Dollar, we remain firmly committed to the acquisition," Dreiling said in a statement. "The financial benefits of our offer to Family Dollar shareholders are indisputable, and the proposed combination would unlock tremendous value for Dollar General shareholders. We continue to believe the potential antitrust issues are manageable and that our transaction as proposed is both superior and achievable."

According to USA Today, Dollar General posted $4.7 billion sales during the quarter, a 7 percent increase, and net income rose 2 percent to $251 million.

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