Some 20 state attorneys general have joined the federal antitrust investigation of competing offers by Dollar General Corp and Dollar Tree Inc to purchase Family Dollar Stores Inc, a development that potentially complicates the companies' efforts to win U.S. approval for a deal. The attorneys general concern focuses on the likelihood that the loss of one of the chains would lead to higher prices for discount store customers, many of whom are poor, said two sources who spoke privately because they were not authorized to speak to reporters.Family Dollar had previously disclosed that state attorneys general were involved in the federal investigation but gave no details.The 20 states looking at this deal are similar in number to those looking at Comcast Corp's plan to buy Time Warner Cable Inc and Sysco Corp's bid for US Foods Inc, both of them high-profile deals.Florida is a member of the multi-state group, which joined the Federal Trade Commission to determine if the deals were legal under antitrust law, according to Whitney Ray, spokesman for Attorney General Pam Bondi.
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 1.6% or $-1.11/share to $68.40. In the past year, the shares have traded as low as $53.00 and as high as $71.78. On average, 4043660 shares of DG exchange hands on a given day and today's volume is recorded at 5184869.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 2.14% or $-1.52/share to $69.59. In the past year, the shares have traded as low as $49.59 and as high as $71.53. On average, 2243400 shares of DLTR exchange hands on a given day and today's volume is recorded at 1335462.
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 0.29% or $-0.23/share to $78.28. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 1059150 shares of FDO exchange hands on a given day and today's volume is recorded at 1660774.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.16% or $-0.24/share to $147.49. In the past year, the shares have traded as low as $128.78 and as high as $155.95. On average, 2779170 shares of TWC exchange hands on a given day and today's volume is recorded at 1130770.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.97% or $-0.83/share to $84.66. In the past year, the shares have traded as low as $58.22 and as high as $88.13. On average, 4820120 shares of TWX exchange hands on a given day and today's volume is recorded at 2221547.
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