Discount store chain Dollar Tree Inc said it expects to divest fewer than 300 stores to purchase larger rival Family Dollar Stores Inc, and had already identified potential buyers.Dollar Tree, which had 5,282 stores in the United States and Canada as of Nov. 1, said it would likely sign an agreement by the end of the month with the U.S. Federal Trade Commission (FTC) on the number of stores it would have to divest.The company said it expects to close the acquisition as soon as March after the FTC's Bureau of Competition gives its consent for store divestitures.Potential buyers will be presented to the FTC for approval within a month, the company said.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 2.32% or $-1.65/share to $69.46. In the past year, the shares have traded as low as $49.59 and as high as $71.53. On average, 2237380 shares of DLTR exchange hands on a given day and today's volume is recorded at 2161138.
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 0.66% or $-0.52/share to $77.99. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 1091380 shares of FDO exchange hands on a given day and today's volume is recorded at 2763927.
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