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Stock Market & Financial Investment News

News Breaks
August 21, 2014
05:35 EDTDLTR, FDO, DGDollar 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 companies’ 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 General’s failure to embrace such requests by Levine weighed into Family Dollar’s 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 – 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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November 21, 2014
07:43 EDTFDO, DLTRDollar Tree price target raised to $74 from $68 at UBS
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07:04 EDTDLTRDollar Tree price target raised to $72 from $64 at Stifel
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05:57 EDTDGStocks with implied volatility above IV index mean; DG GME
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November 20, 2014
10:33 EDTDGHigh option volume stocks
High option volume stocks: KBR LM PRGO CHRW DG ZMH LGF ZTS OSIR REGI
09:30 EDTFDO, DLTRDollar Tree says working to close Family Dollar deal 'as soon as possible'
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09:21 EDTDLTROn The Fly: Pre-market Movers
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07:35 EDTDLTRDollar Tree sees Q4 EPS $1.07-$1.14, consensus $1.13
Sees Q4 revenue $2.39B-$2.46B, consensus $2.45B. Sees Q4 SSS up in the low single digits.
07:35 EDTDLTRDollar Tree sees FY14 EPS including acquisition related costs $2.97-$3.04
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07:33 EDTDLTRDollar Tree reports Q3 EPS 69c ex-items, consensus 64c
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November 19, 2014
15:31 EDTDLTRNotable companies reporting before tomorrow's open
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15:15 EDTFDO, DGDollar General affirms commitment to Family Dollar deal, says FTC review ongoing
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15:14 EDTFDO, DGDollar General says actively engaged in ongoing FTC review process for deal
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15:13 EDTFDO, DGDollar General affirms commitment to Family Dollar acquisition
08:31 EDTDLTR, FDOFamily Dollar reschedules special meeting of shareholders to December 23
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06:39 EDTDG, FDODollar General may have to sell over 4K stores for deal approval, NY Post says
The Federal Trade Commission may require Dollar General (DG) to sell more than 4,000 of its stores to gain approval of its deal to buy Family Dollar (FDO), according to The New York Post. Dollar General had previously said that it was willing to sell 1,500 of its stores to facilitate the deal, the newspaper stated. Reference Link
November 17, 2014
09:00 EDTDGDollar General says now accepting American Express cards
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November 14, 2014
17:27 EDTFDOPaulson & Co. gives quarterly update on stakes
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November 12, 2014
07:04 EDTDLTR, FDO, DGFamily Dollar reaffirms recommendation to merge with Dollar Tree
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November 7, 2014
17:10 EDTDLTR, FDODollar Tree certifies substantial compliance with FTC second request under HSR
Dollar Tree (DLTR) announced that it has certified substantial compliance with the Request for Additional Information and Documentary Materials issued by the FTC on September 8, regarding its proposed acquisition of Family Dollar Stores (FDO). Family Dollar previously certified substantial compliance with the FTC on October 21. In order to facilitate the FTC’s review, Dollar Tree and Family Dollar have agreed not to close the Proposed Merger prior to December 30, unless the FTC completes its review of the Proposed Merger and terminates the waiting period at an earlier date. The FTC staff has indicated that it is examining whether prices would increase if the parties no longer had to compete with each other, and an important factor in this examination is how prices would change under either of the merging parties’ current pricing policies. The FTC staff has also focused on the similarity and differences between the parties’ stores and other competing retail chains. The concerns and competitive theories articulated by the FTC staff would require divestitures in connection with the Proposed Merger. As Dollar Tree remains confident that it will obtain antitrust approval to consummate the Proposed Merger reasonably promptly. Dollar Tree is committed to cooperating with the FTC’s investigation of the Proposed Merger, and providing all of the necessary information for the FTC to advance its review as promptly as practicable. The special meeting of Family Dollar shareholders to vote on the Proposed Merger is currently scheduled for December 11.

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