MATTHEWS, NC—The board of Family Dollar Stores Inc., which currently plans to merge with Dollar Tree Inc., has turned down Dollar General Corp. a second time, rejecting the $80/share offer from the dollar-store sector’s biggest player. The board’s unanimous rejection of DG’s Sept. 2 unsolicited bid cited the same basic concern as its turndown of DG’s initial $78.50/share last month: antitrust considerations. DG made both offers after FDO and Chesapeake, VA-based DLTR announced plans to merge.

Although Goodlettsville, TN-based DG offered to divest as many as 1,500 locations in order to complete an FDO acquisition, the Matthews, NC retailer’s board says that may not be enough. “Far more than 1,500 Family Dollar stores are in zones where pricing is based solely on the presence of local Dollar General stores, and thousands more are in zones where pricing is based on both Dollar General and Wal-Mart stores nearby,” according to a statement.

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