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US: Dollar General’s latest bid for rival may prove irresistible

By  |  September 2, 2014

Dollar General announced Tuesday that it has increased its offer to acquire rival Family Dollar after a month of unsuccessful bids.

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    According to reports, Dollar General upped the offer to $9.1 billion and included two significant concessions to sweeten the proposal: a $500 million breakup fee, and an agreement to divest up to 1,500 stores if required to do so by the Federal Trade Commission, which is reviewing the deal.

    Dollar General had earlier proposed to sell 700 of its stores to appease competition concerns.

    According to reports, while Family Dollar may not be able to resist the latest bid despite weeks of turning down Dollar General’s fronts.

    Family Dollar had earlier rejected an $8.95 billion offer due to concerns that regulators would ultimately block the deal. Reports say Dollar General’s breakup fee aims to address those concerns.

    Full content: Reuters

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