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US: Dollar store takeover battle turns hostile

 |  September 10, 2014

Dollar General has reportedly launched a hostile takeover bid to acquire rival Family Dollar after Family Dollar repeatedly rejected offers.

Dollar General will now bring its $9.1 billion acquisition offer directly to shareholders after twice being rejected. Dollar General has been acting to thwart Family Dollar’s plans to sell itself to Dollar Tree for $8.5 billion and has stated that antitrust concerns regarding a deal with Dollar General are too high.

But Dollar General has refused to give up on the deal, likely as a move to strengthen its position against larger, budget-friendly retailers like Wal-Mart and Target, experts say.

Dollar General said it will now present the merger deal directly to the Federal Trade Commission.

Full content: Reuters

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