The Associated Press: Hedge fund Elliott Management Corp. said Friday it is seeking seats on Family Dollar's board in an effort to get the retailer to reconsider a rebuffed buyout bid.

Family Dollar Stores Inc. accepted an $8.5 billion cash and stock buyout offer from fellow discounter Dollar Tree in July. It is also trying to fend off buyout efforts by another rival, Dollar General, which has decided to take its $9.1 billion cash bid directly to shareholders.

Family Dollar said previously that regulators are less likely to raise antitrust concerns in a deal with Dollar Tree.

Elliott Management said that Family Dollar missed a chance to get Dollar General and Dollar Tree into a bidding war. It said that Dollar General has a superior offer and it wants to ensure it is given "an even playing field in its continuing efforts to acquire" Family Dollar.

The hedge fund also said that by nominating seven board members it is seeking to protect its 4.9 percent stake in Family Dollar.

Family Dollar, which is based in Matthews, North Carolina, said in a statement Friday that it will "review the notice in due course." Its shares rose 75 cents, or almost 1 percent, to $77.52 in after-hours trading.

Shares in Dollar General Corp., which is based in Goodlettsville, Tennessee, were up 87 cents, or 1.5 percent, at $60.82 in extended trading. Dollar Tree Inc., headquartered in Chesapeake, Virginia, rose 1 cent to $56.58.