Dollar General Considering Counter-bid For Family Dollar: Bloomberg
Bloomberg reported, citing people with knowledge of the matter, that Discount retailer Dollar General Corp is considering a rival bid to Dollar Tree Inc ‘s $8.5 billion offer for Family Dollar Stores Inc. Dollar General shares were up 3 percent at $57.62 on the New York Stock Exchange on Tuesday. Family Dollar shares were also up 2 percent at $77.26. Dollar Tree shares were down 1.8 percent at $54.99 on the Nasdaq. Bloomberg said, quoting one of the sources, that Dollar General was working with an adviser to evaluate options, knowing banks are willing to finance a counter-bid. The report said there was no guarantee that the company would make an offer. One of the sources put the chance of a rival Dollar General bid at 50 percent.
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