Family Dollar Inc adjourned a special meeting of shareholders to vote on the company's potential acquisition by smaller rival Dollar Tree Inc to Jan. 22 from Tuesday. Family Dollar said it adjourned the meeting as there were not enough votes to adopt the Dollar Tree agreement.The company had earlier set the meeting for Dec. 11, but postponed it to Tuesday.Family Dollar agreed to be acquired by Dollar Tree for $8.5 billion in cash and stock after twice rejecting higher all-cash offers from bigger rival Dollar General Corp, citing antitrust concerns.
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 1.05% or $0.72/share to $69.38. In the past year, the shares have traded as low as $53.00 and as high as $71.78. On average, 3991110 shares of DG exchange hands on a given day and today's volume is recorded at 691946.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.91% or $0.63/share to $69.72. In the past year, the shares have traded as low as $49.59 and as high as $69.65. On average, 2398270 shares of DLTR exchange hands on a given day and today's volume is recorded at 227155.
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