In the face of Family Dollar's rejection of its offer, Dollar General said it is committed to acquiring its competitor.
Rick Dreiling, Dollar General's chairman and chief executive officer, said, "We are disappointed that the Family Dollar board of directors has concluded that our proposal is not reasonably expected to lead to a superior proposal without informing itself of all relevant information."
Family Dollar earlier today rejected Dollar General's $9.7 billion offer for the company, citing antitrust concerns.
Dollar General made its competing offer earlier this week. Family Dollar last month inked an agreement to accept Dollar Tree Inc.'s $9.2 billion offer, which is still subject to customary closing conditions.
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