Discount retailer Dollar General Corp offered to purchase Family Dollar Stores Inc for $8.95 billion, trumping an offer by Dollar Tree Inc.Dollar General's offer of $78.50 per share in cash represents a premium of 3.2 percent to Family Dollar's Friday close. Family Dollar had 113.9 million shares outstanding as of July 5, according to Thomson Reuters data.Family Dollar's shares rose 5.1 percent to $80 before the bell, while Dollar General's shares rose 11 percent to $63.90.The deal, at an enterprise value of $9.7 billion, was proposed in a letter to Family Dollar's board on Monday.
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 0.73% or $-0.42/share to $57.46. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6128120 shares of DG exchange hands on a given day and today's volume is recorded at 7233441.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 0.58% or $-0.326/share to $55.60. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2687760 shares of DLTR exchange hands on a given day and today's volume is recorded at 1884345.
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 0.37% or $-0.28/share to $76.06. In the past year, the shares have traded as low as $55.64 and as high as $79.93. On average, 2732250 shares of FDO exchange hands on a given day and today's volume is recorded at 1745046.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.16% or $-0.06/share to $37.92. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 756455 shares of TRI exchange hands on a given day and today's volume is recorded at 1822374.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.31% or $-0.13/share to $41.30. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 586965 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 457241.
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