Dollar General sweetens Family Dollar bid, may go hostile

Family Dollar opted instead for an $8.5 billion cash-and-stock bid from Dollar Tree Inc (DLTR.O). Family Dollar's shares were up almost 1 percent at $80.52 in premarket trading on Tuesday, above Dollar General's offer, suggesting some investors held hopes of higher offers. Shares of Dollar General, which increased its all-cash offer by 2 percent, were up 2.3 percent. "In the event you refuse to engage with us regarding our revised proposal, we will consider taking our persuasive and superior proposal directly to your shareholders," Dollar General Chief Executive Rick Dreiling said in a letter to Family Dollar's board on Tuesday.

via Business News http://ift.tt/W5HpVd