Family Dollar Stores Inc rejected Dollar General Corp's $9.1 billion sweetened takeover offer, saying it was not reasonably likely to be completed on the terms proposed. "There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process," Family Dollar 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 remained unchanged at $64.48. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6604130 shares of DG exchange hands on a given day and today's volume is recorded at 2800.
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 remained unchanged at $80.06. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 3150580 shares of FDO exchange hands on a given day and today's volume is recorded at 6140.
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