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Dollar General rival bids for Family Dollar

Family Dollar

(CNN) – The bidding war among ‘dollar stores’ is heating up.

Dollar General has made an all-cash bid of nearly $10 billion for rival Family Dollar.

The deal equals $78,000 .50 per share, or about $9.7 billion.

That tops a buy-out offer made last month by Dollar Tree, valued at $8.5 billion.

All three of the retailers are general store chains that specialize in low-cost consumer goods.

Dollar General describes itself as the largest discount retailer in the U.S., with more than 11,000 stores in 40 states.