Family Dollar doesn't need your dollars, Dollar General. In a bidding war that had more "dollars" in its name than any before, Dollar General attempted to take over Family Dollar by paying $8.95 billion dollars this week.
However, Family Dollar already had a dollar companion: Dollar Tree. Dollar Tree and Family Dollar will merge, as they originally agreed to in late July. Dollar Tree will pay $8.5 billion for Family Dollar.
Family Dollar decided to reject Dollar General's higher offer because of antitrust issues. Dollar General was anticipating an antitrust issue and had offered to "divest up to 700 of its stores to get the necessary approvals." Nonetheless, the Family Dollar board felt more strongly in the original, albeit lower, Dollar Tree deal. Exact terms of the deal have not yet been made public.
That's a lot of dollars.
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to firstname.lastname@example.org.