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Dollar General Corp raised its bid for Family Dollar Stores Inc to $9.1 billion, and warned it may turn hostile and appeal directly to shareholders if the new offer was rejected. Family Dollar opted instead for an $8.5 billion cash-and-stock bid from Dollar Tree Inc . Family Dollar said on Tuesday its board would review Dollar General's new offer and that it was sticking with its deal with Dollar Tree. Dollar General's 2 percent higher offer is "more than good enough" and there is no excuse for Family Dollar to not open its books to its larger rival, said Rahul Sharma, managing director of investment advisory Neev Capital.
By Kylie MacLellan and Andrew Osborn LONDON (Reuters) - Britain's parliament has rejected Chinese calls to scrap an inquiry into Hong Kong's progress towards democracy, a senior lawmaker said, warning that reforms there may violate a 1984 deal on the former British colony's sovereignty. Britain handed Hong Kong back to China in 1997 under an agreement which said it could keep its wide-ranging freedoms and autonomy. With tensions rising in the special administrative region, Britain's parliament launched an inquiry in July, prompting the Chinese ambassador to Britain and the National People's Congress Foreign Affairs committee to robustly demand it be shelved.