Family Dollar Stores Inc said certain state attorney generals have notified the company that they will investigate larger rival Dollar General Corp's takeover bid over competitive concerns. Family Dollar spurned Dollar General's sweetened $9.1 billion all-cash bid earlier this month, saying the offer still did not address antitrust concerns. Family Dollar instead said it was sticking with a lower $8.5 billion cash-and-stock offer from Dollar Tree Inc.After being spurned twice, Dollar General took its bid hostile and approached Family Dollar shareholders directly.Dollar General has offered to sell up to 1,500 stores and to pay $500 million as break-up fee if the deal failed to clear antitrust reviews.Family Dollar said on Friday it notified the FTC about the state attorney generals' plans to investigate the Dollar General bid. (bit.ly/1rpt41f)
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 0.47% or $0.29/share to $61.49. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6301000 shares of DG exchange hands on a given day and today's volume is recorded at 2215879.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.36% or $0.2/share to $55.74. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 3181680 shares of DLTR exchange hands on a given day and today's volume is recorded at 5370196.
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 $77.54. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 2990280 shares of FDO exchange hands on a given day and today's volume is recorded at 925082.
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