Dollar General Rival Bid For Family Dollar


Published 08/18 2014 11:02AM

Updated 08/18 2014 11:03AM

The bidding war among dollar stores is heating up.

Dollar General has made an all-cash bid of nearly ten billion dollars for rival Family Dollar.

The deal equals to $78.50 per share, or about $9.7 billion.

That tops an offer made last month by dollar tree, valued at $8.5-billion.

CNN's efforts to reach Family Dollar for comment were not immediately successful.

All three of the retailers are general store chains that specialize in low-cost consumer goods.

Dollar General describes itself as the largest discount retailer in the US, with more than 11,000 stores in 40 states.

Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.