CHARLOTTE, N.C. -- For Dollar General, no does not mean no.
The company is now attempting a hostile takeover of Matthews-based Family Dollar by directly taking their buyout offer to shareholders. The $80/share price is higher than the $74.50/share merger deal Family Dollar accepted from Dollar Tree.
The map below shows where each company has stores in the Charlotte area. Red represents Family Dollar, which has the highest number of stores locally. Yellow points represent Dollar General stores, while green stands for Dollar Tree locations. The list was compiled from a search on each company's online store locator (Both Dollar General and Family Dollar decline to provide a list to NBC Charlotte).
The big difference here, analysts say, is how each company overlaps with Family Dollar. Dollar General overlaps quite well, which means they can save money because they'd have more buying power, and they'd sell off or close stores. Dollar General hasn't said what it would do with Family Dollar's headquarters in Matthews, but analysts tell me there would probably be job losses there.
In several spots on the map above, you can see Family Dollar stores located across the street from Dollar General stores, specifically along Lawyers Road in Mint Hill and along Independence Boulevard in East Charlotte. In a merger, the combined company wouldn't need stores directly next to one another. Dollar General has already said it would close or sell 1,500 stores to avoid any anti-trust issues.
Dollar Tree sells everything for a dollar or less, and they sell stuff that you want, not stuff that you need like Family Dollar does. Those two companies don't overlap very well. In south Charlotte, there's a Dollar Tree right next to a Family Dollar along Pineville-Matthews Road. It's less likely that either one of those stores would close after a merger.
Family Dollar keeps reiterating that the Dollar Tree deal is the deal it wants, and Dollar Tree has said it'd keep the headquarters and the CEO Howard Levine, albeit in a different executive role.
The map above also shows that none of the three chains have stores in a swath of Charlotte that includes Uptown, Dilworth, SouthPark or Ballantyne, where much of Charlotte's wealth is concentrated. Because each chain targets lower income customers, it's not surprising that none of the chains have opened stores in those areas.