Family Dollar rebuffed Dollar General's $8.95 billion 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 Corp.'s offer and determined it wasn't reasonably likely to be completed on the terms proposed.
Dollar General declined to comment.
Last month, Family Dollar agreed to an $8.5 billion deal with Chesapeake, Va.-based Dollar Tree Inc.
