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Stock Market & Financial Investment News

News Breaks
August 21, 2014
05:35 EDTDG, DLTR, FDODollar General sends letter to Family Dollar board
Dollar General (DG) announced it has sent the following letter to the board of Family Dollar Stores (FDO): "We have reviewed the Form S-4 on the background of your current merger agreement with Dollar Tree (DLTR). As the Family Dollar board considers our superior proposal, we believe it is important for you to take into account certain important facts that are not included in the Form S-4 relating to our interaction with your company. While the Form S-4 references various meetings between our companiesí representatives over the years, it fails to mention that Dollar General representatives have consistently expressed a keen interest in putting our two companies together. The Form S-4 also fails to mention that on more than one occasion at such meetings, Howard Levine expressed his own interest in the social issues of a combination, including, among other things, his desire to be CEO of the combined companies. We cannot help but question whether Dollar Generalís failure to embrace such requests by Levine weighed into Family Dollarís decision to pursue an agreement with Dollar Tree." The letter continues, "During the June 19 meeting, although noting that the timing was not optimal for Dollar General, our representatives expressed more than once our interest in exploring a combination with Family Dollar." Further, "It is surprising, then, that, according to the Form S-4, your board was considering at that time a proposal in that range from Dollar Tree, and yet no representative of Family Dollar followed up with any representative of Dollar General after that meeting and before entering into the merger agreement with Dollar Tree. This lack of engagement is puzzling. Regrettably, as a result, we are now forced to factor a $305M break-up fee into our offer Ė consideration that could have been better used to maximize value for the Family Dollar shareholders. Nonetheless, we have presented you with a superior proposal for your shareholders, although perhaps not for Levine personally, and we urge you to evaluate our proposal on its merits considering this full set of facts and in keeping with your obligation to consider first and foremost the best interests of your shareholders."
News For DG;FDO;DLTR From The Last 14 Days
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July 6, 2015
12:43 EDTFDO, DLTRDollar Tree completes acquisition of Family Dollar
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July 2, 2015
16:53 EDTFDO, DLTRDollar Tree says receives FTC clearance to complete Family Dollar merger
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July 1, 2015
16:53 EDTFDOFamily Dollar reports Q3 adjusted EPS 74c, consensus 82c
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June 30, 2015
07:28 EDTDLTR, FDODollar Tree shares poised to outperform, says Wells Fargo
Wells Fargo predicts that Dollar Tree will be re-ranked by quantitative investment models following its merger with Family Dollar (FDO), enabling Dollar Tree's stock to outperform. The firm predicts that Dollar Tree's P/E ratio will become much lower versus its peers after the merger closes. Wells keeps an Outperform rating on Dollar Tree.
June 25, 2015
09:21 EDTFDOFamily Dollar volatility low into Q1 and outlook
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08:01 EDTDGDollar General names John Garratt as interim CFO, effective July 1
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