Family Dollar Stores Inc rejected Dollar General Corp's acquisition offer, citing antitrust concerns, and reaffirmed its support for a takeover offer from Dollar Tree Inc. "Our board reviewed, with our advisors, all aspects of Dollar General's proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed," Family Dollar's Chief Executive Howard Levine said in a statement.
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 traded higher by 0.27% or $0.17/share to $63.76. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6805540 shares of DG exchange hands on a given day and today's volume is recorded at 6009188.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.53% or $0.29/share to $55.00. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2892680 shares of DLTR exchange hands on a given day and today's volume is recorded at 3553473.
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 traded higher by 0.14% or $0.11/share to $79.81. In the past year, the shares have traded as low as $55.64 and as high as $80.10. On average, 3106650 shares of FDO exchange hands on a given day and today's volume is recorded at 2198458.
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