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a fistful of dollars

Family Dollar rejects Dollar General's latest bid

The Dollar Store wars continue as Family Dollar rejected Dollar General's latest bid for the company.

Family Dollar announced Friday that it has "antitrust concerns," The Associated Press reports, and it rejected Dollar General's latest offer. Dollar Tree nows says it will "divest as many stores as needed" to gain antitrust clearance to buy Family Dollar.

In July, Family Dollar Stores Inc. accepted an $8.5 billion deal with Dollar Tree Inc. Dollar General, America's largest dollar-store chain, tried to get in on the action with an $8.9 billion bid, which Family Dollar then rejected. Dollar General increased its bid to $9.1 billion on Tuesday, and now, Family Dollar has rejected the $9.1 billion offer as well.

Dollar Tree and Family Dollar said Friday that their deal could close as early as November. AP notes that besides Dollar Tree divesting more stores, all of the deal's original terms are unchanged.