Dollar General Corp extended for the second time its tender offer to acquire shares of Family Dollar Stores Inc, as less than 4 percent of Family Dollar's shares had been tendered so far. Family Dollar, which has spurned Dollar General's takeover approaches twice, citing anti-trust concerns, has been pushing for a lower cash-and-stock deal from Dollar Tree Inc of $74.50 per share.Dollar General said its tender offer would now expire on Dec. 31, instead of Oct. 31.About 4 million shares, nearly 3.6 percent of Family Dollar's total share capital of about 114 million, had been validly tendered into the offer as of Oct. 30, Dollar General said in a statement.It had set Oct. 8 as the deadline for the tender offer, when it took its all cash $80 per share bid for Family Dollar hostile in September.
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 1.12% or $0.7/share to $63.15. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 5034350 shares of DG exchange hands on a given day and today's volume is recorded at 36510.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 1.7% or $1.01/share to $60.53. In the past year, the shares have traded as low as $49.59 and as high as $60.11. On average, 2825150 shares of DLTR exchange hands on a given day and today's volume is recorded at 180926.
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 0.26% or $0.2/share to $78.02. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 2170820 shares of FDO exchange hands on a given day and today's volume is recorded at 16079.
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