Family Dollar rejects Dollar General proposal

Family Dollar’s board of directors said Thursday it rejected a merger proposal from rival discount chain Dollar General. The board cited antitrust regulatory considerations as the reason for the rejection, and reaffirmed its recommendation for a merger with Dollar Tree.

Dollar General bid $9.7 billion for Family Dollar, beating Dollar Tree's original bid of $8.5 billion.

According to Fox Business, Family Dollar officials felt Dollar General could not complete the proposed terms in the offers and felt its rival's bid contained “blatant mischaracterizations."

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