Family Dollar Rejects Dollar General Offer
Family Dollar is rebuffing Dollar General's takeover bid, citing antitrust issues. The discounter's board supports its existing merger with Dollar Tree. Family Dollar Stores Inc. Chairman and CEO Howard Levine said in a statement Thursday that its board and advisers reviewed Dollar General's offer and determined it wasn't reasonably likely to be completed on the terms proposed. Dollar General declined to comment. Family Dollar became a takeover target in part because of its business struggles. The Matthews, N.C.-based company has been shuttering stores and cutting prices in hopes of boosting its financial performance.