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Wednesday, November 19, 2014

Dollar General may have to shut more than 4,000 stores - NY Post, (NYSE: DG), (NYSE: FDO)

Dollar General Corp may need to divest more than 4,000 stores to win approval from the U.S. Federal Trade Commission for its acquisition of Family Dollar Stores Inc, the New York Post reported, citing two sources close to the situation. Dollar General has agreed to sell up to 1,500 stores as part of its $9.1 billion offer. It approached Family Dollar shareholders with its offer directly in September after twice being spurned by its smaller rival.The New York Post reported on Wednesday that Dollar General could be forced either to raise its bid again or to divest more than double the number of stores previously pledged. (bit.ly/1AgITxs)Family Dollar said in September it had been notified by certain state attorneys general that Dollar General's bid would be investigated over competitive concerns.Neither the FTC nor Dollar General could be reached for comment outside regular U.S. business hours.

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 1.33% or $0.87/share to $66.17. In the past year, the shares have traded as low as $53.00 and as high as $66.21. On average, 3931540 shares of DG exchange hands on a given day and today's volume is recorded at 3577114.

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 0.01% or $-0.01/share to $78.85. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 1353560 shares of FDO exchange hands on a given day and today's volume is recorded at 1141215.



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