Dollar General Rival Bid For Family Dollar

By CNN

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.

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