Discount retailer Dollar General Corp is considering a rival bid to Dollar Tree Inc 's $8.5 billion offer for Family Dollar Stores Inc, Bloomberg reported, citing people with knowledge of the matter.Dollar General shares were up 3 percent at $57.62 on the New York Stock Exchange on Tuesday. Family Dollar shares were also up 2 percent at $77.26.Dollar Tree shares were down 1.8 percent at $54.99 on the Nasdaq.Dollar General was working with an adviser to evaluate options, knowing banks are willing to finance a counter-bid, Bloomberg said, quoting one of the sources. (bloom.bg/1ARE24z)
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 3.43% or $1.92/share to $57.83. In the past year, the shares have traded as low as $52.40 and as high as $65.99. On average, 5634110 shares of DG exchange hands on a given day and today's volume is recorded at 9963996.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 2.11% or $-1.18/share to $54.79. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2583230 shares of DLTR exchange hands on a given day and today's volume is recorded at 3759037.
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 2.34% or $1.77/share to $77.50. In the past year, the shares have traded as low as $55.64 and as high as $76.82. On average, 2491720 shares of FDO exchange hands on a given day and today's volume is recorded at 5621119.
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