CHARLOTTE, N.C. -- The bidding war for Matthews-based Family Dollar is back. Dollar General is refusing to take no for an answer. Now they're back with a sweeter bid, offering more than $9 billion, or $80 per share.
Matthews-based Family Dollar said no to an earlier buyout offer last month in favor of a lower priced offer from Dollar Tree.
But this time Dollar General says if the Family Dollar board turns this one down, it could do an "end run" and take the offer directly to shareholders.
Family Dollar said no the first time expressing concern about possible antitrust violations in the dollar store marketplace.
This time around, Dollar General has offered to close 1500 stores and set aside a half billion-dollar fund to address the concerns.
So what would the deal mean to shoppers and workers?
If you're shopper, you probably won't notice any difference in prices, since WalMart is the big player that exerts the most market pressure on prices in dollar stores, but you might have to driver farther to get to a dollar store.
If you're a Family Dollar worker and there's a Dollar General store nearby, the new company could well close one of those stores and layoff or transfer workers.
If you work at the company headquarters in Matthews, there could well be layoffs or transfers.
UNCC economist John Connaughton warned the folks who work at headquarters, "I would have an up-to-date resume."
But he also says the back-and-forth negotiating is not over and there could be even more money on the table before the deal is done.