Proxy advisory firm Institutional Shareholder Services advised Family Dollar Stores Inc's shareholders to vote for the retailer's deal to be acquired by Dollar Tree Inc, reversing its previous recommendation. The Dollar Tree deal offers significant value and near certainty of closure, ISS said in a report on Wednesday.ISS had asked Family Dollar's shareholders in December to oppose the Dollar Tree offer and postpone a Dec. 23 meeting to vote on the deal.Family Dollar agreed last year to be bought by smaller rival Dollar Tree for $8.5 billion in cash and stock and rejected a sweetened hostile offer of $9.1 billion from Dollar General Corp .
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 0.84% or $-0.57/share to $67.23. In the past year, the shares have traded as low as $53.00 and as high as $71.78. On average, 4242610 shares of DG exchange hands on a given day and today's volume is recorded at 985866.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 1.85% or $-1.26/share to $66.74. In the past year, the shares have traded as low as $49.59 and as high as $71.53. On average, 2288650 shares of DLTR exchange hands on a given day and today's volume is recorded at 1383296.
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