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Friday, June 27, 2014

Dollar General CEO to retire, Icahn's proposed merger in doubt, (NYSE: DG), (NYSE: FDO), (NYSE: WMT)

Dollar General Corp said CEO Rick Dreiling will retire next year, throwing into doubt a proposal by Carl Icahn to merge the discount retailer with Family Dollar Stores Inc.Dollar General's shares fell as much as 8 percent and Family Dollar's as much as 4 percent in morning trading on Friday.Both companies face increasing competition from big-box retailers such as Wal-Mart Stores Inc that are also competing for business from low-income families, who themselves have been hit by cuts in benefits such as food stamps.Icahn said earlier this month he was considering pushing Family Dollar to sell itself to Dollar General to help the companies cope with intensifying competition.

Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG fell by 6.91% or $-4.26/share to $57.42. In the past year, the shares have traded as low as $50.43 and as high as $65.99. On average, 4470170 shares of DG exchange hands on a given day and today's volume is recorded at 16185587.

Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. Shares of FDO fell by 3.06% or $-2.08/share to $65.92. In the past year, the shares have traded as low as $55.64 and as high as $75.29. On average, 1850140 shares of FDO exchange hands on a given day and today's volume is recorded at 2369335.

Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT fell by 0.03% or $-0.02/share to $74.89. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 5867960 shares of WMT exchange hands on a given day and today's volume is recorded at 2154703.



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