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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 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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February 9, 2016
11:32 EDTDGOptions with increasing put volume
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February 8, 2016
10:00 EDTDLTROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
07:59 EDTDLTRDollar Tree upgraded to Outperform from Market Perform at Telsey Advisory
February 3, 2016
11:26 EDTDGOptions with increasing call volume; LOW LNC DG EW SNOW KLIC CIT AN EAT SYT
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January 27, 2016
09:51 EDTDLTRDollar Tree initiated with a Buy at Cleveland Research

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