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Wednesday, September 10, 2014

Dollar General goes hostile with Family Dollar bid, (NYSE: DG), (NASDAQ: DLTR), (NYSE: FDO)

Dollar General Corp took its $9.1 billion offer for Family Dollar Stores Inc hostile, directly approaching the shareholders of its smaller rival after being spurned twice by the company.The move could throw a wrench in Family Dollar's agreement to sell itself to Dollar Tree Inc for a lower cash-and-stock deal of $8.5 billion, or 74.50 per share.Dollar General said on Wednesday it had started a cash tender offer to purchase all shares of Family Dollar for $80 per share.The sweetened offer was rejected last week, with Family Dollar saying it did not address antitrust concerns.

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 0.05% or $0.03/share to $63.42. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6431910 shares of DG exchange hands on a given day and today's volume is recorded at 5494241.

Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.67% or $0.37/share to $55.91. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 3015900 shares of DLTR exchange hands on a given day and today's volume is recorded at 2050181.

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 0.15% or $-0.12/share to $78.70. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 3011750 shares of FDO exchange hands on a given day and today's volume is recorded at 887499.



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