Family Dollar rejects Dollar General's sweetened offer

Sept 5 Fri Sep 5, 2014 8:44am EDT

Sept 5 (Reuters) - Family Dollar Stores Inc rejected Dollar General Corp's $9.1 billion sweetened takeover offer, saying it was not reasonably likely to be completed on the terms proposed.

"There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process," Family Dollar Chief Executive Howard Levine said in a statement.

Family Dollar said it would stick with an $8.5 billion cash-and-stock offer from Dollar Tree Inc. (Reporting by Siddharth Cavale in Bangalore; Editing by Sriraj Kalluvila)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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