Dollar General Corp extended its tender offer for shares of Family Dollar Stores Inc to Dec. 31, until after a shareholder vote that will decide the fate of a rival bid by Dollar Tree Inc.Dollar General had received offers for only about 4 million Family Dollar shares of a total 114 million outstanding shares as of Oct. 30, a day before the offer was to expire.Dollar General's perseverance to close a deal highlights its struggles in a weak economy where penny-pinching customers look for more discounts and deals.Dollar stores have been a popular choice for such customers, but rising competition from mass retailers such as Wal-Mart Stores Inc and Target Corp opening small-format stores has intensified pressure on them to merge.
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 fell by 0.05% or $-0.03/share to $62.42. 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 891364.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 1.81% or $1.08/share to $60.60. 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 2417093.
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 0.44% or $0.34/share to $78.16. 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 354353.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT fell by 0.28% or $-0.17/share to $61.61. In the past year, the shares have traded as low as $54.66 and as high as $67.25. On average, 4485610 shares of TGT exchange hands on a given day and today's volume is recorded at 1964610.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 0.03% or $0.02/share to $76.47. In the past year, the shares have traded as low as $72.27 and as high as $81.37. On average, 6431230 shares of WMT exchange hands on a given day and today's volume is recorded at 3283914.
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