Money | Dollar Tree Dollar General Opens Bidding War Makes $9.7B offer for Family Dollar, topping Dollar Tree's $8.5B bid By Newser Editors and Wire Services Posted Aug 18, 2014 6:21 AM CDT Copied In this Sept. 25, 2013, file photo, customers exit a Dollar General in San Antonio. There’s now a bidding war for Family Dollar, with Dollar General offering about $9.7 billion. (AP Photo/Eric Gay, File) There's now a bidding war for Family Dollar, with Dollar General today offering about $9.7 billion for the discounter in an effort to trump Dollar Tree's $8.5 billion bid last month. Dollar General Corp. said today that it would pay $78.50 per share in cash, 3% higher than Family Dollar Stores Inc.'s Friday closing price of $76.06. "Our proposal is financially superior to the current transaction agreement with Dollar Tree," says Dollar General Chairman Rick Dreiling, as per the Wall Street Journal. The combined companies would create a behemoth with 20,000 stores and annual sales that top $28 billion, notes the Journal. Dollar Tree offered last month to pay $59.60 in cash and the equivalent of $14.90 in shares of Dollar Tree for each share they own. The companies put the value of the transaction at $74.50 per share. Family Dollar's board unanimously approved the Dollar Tree deal. Read These Next Gavin Newsom has filed a massive lawsuit against Fox News. White House rolls with Trump's 'daddy' nickname. New Fox star, 23, misses first day after car troubles. New York Times ranks the best movies of the 21st century. Report an error