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Dollar General Top S&P 500 Performer After Family Dollar Bid


Shares of Dollar General surged on Monday making it TheStreet's Move of the Day. The discount retailer confirmed its $9.7 billion offer for Family Dollar, triggering a likely bidding war after trumping Dollar Tree’s previous offer of $8.5 billion. Dollar General’s $78.50 a share offer represents a nearly 30 percent premium to Family Dollar’s share price prior to Dollar Tree’s offer. In a statement, Dollar General said, 'Our proposal is financially superior to the current transaction agreement with Dollar Tree and would provide Family Dollar shareholders with a substantial premium and immediate liquidity for their shares.' TheStreet's Keris Lahiff reports from New York.