New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:54 EDTFDO, DG, DLTRFamily Dollar rises as Icahn urges immediate sale of company
Shares of discount retailer Family Dollar Stores (FDO) are higher this morning after Carl Icahn sent a letter to the company's Chief Executive Officer urging an immediate sale. WHAT'S NEW: Citing consistent underperformance of the company, activist investor Carl Icahn said in a letter to Family Dollar CEO Howard Levine on Thursday that "it is imperative that Family Dollar be put up for sale immediately." Icahn believes there would also be significant interest from strategic and financial buyers, adding that "it is clear that now is a perfect time to sell," given the current interest rate environment and stock market. Icahn also said he believes that "an overwhelming majority of the company's shareholders would be in favor of a sale," and that three of his representatives should be added to the company's board of directors immediately. The activist investor claims that Family Dollar has been "in limbo" for too long and that consolidation in the discount retail space is "inevitable." Icahn warned that if he and the company cannot work on this collaboratively, he will take the matter directly to shareholders and commence a written consent solicitation within the next few weeks to replace Family Dollar's entire board of directors with "individuals that will have a shareholder mandate to sell the company." The letter comes after a conversation between Icahn and Levine the evening before. WHAT'S NOTABLE: Family Dollar responded to Icahn's letter, explaining that the company's management and board of directors are committed to acting in the best interests of the company and its shareholders. Family Dollar noted that the company is currently undertaking an in-depth business review, and will continue to take immediate, strategic actions to improve its performance "as appropriate." Family Dollar said it is open to communicating constructively with its investors to enhance value. PRICE ACTION: Family Dollar is up $1.06, or 1.6%, to $69.20 in mid-morning trading. OTHERS TO WATCH: Shares of Family Dollar peer Dollar General (DG) are up over 1% to $62.18, while another peer, Dollar Tree (DLTR), is fractionally lower at $53.61.
News For FDO;DG;DLTR From The Last 14 Days
Check below for free stories on FDO;DG;DLTR the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
July 28, 2014
10:02 EDTDGOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:57 EDTDLTRDollar Tree downgraded to Neutral from Outperform at Credit Suisse
Subscribe for More Information
09:50 EDTDGActive equity options trading on open
Subscribe for More Information
09:32 EDTFDO, DLTRDollar Tree says will pay down debt vs. buying back shares
Subscribe for More Information
09:26 EDTFDO, DLTRDollar Tree says deal could close by early January 2015
Subscribe for More Information
09:17 EDTFDO, DG, DLTROn The Fly: Pre-market Movers
Subscribe for More Information
09:17 EDTDGDollar General initiated with a Hold at Argus
09:10 EDTFDO, DG, DLTRDollar Tree to benefit from Family Dollar deal, says Sterne Agee
Subscribe for More Information
09:05 EDTDG, FDO, DLTRDollar General 'fully aware" of Family Dollar buyout, CNBC reports
Dollar General (DG) was "fully aware" of Family Dollar buyout process by Dollar Tree (DLTR), CNBC's David Faber reports. Shares of Dollar General are down 4% to $53.40 following news of the Dollar Tree, Family Tree merger.
09:00 EDTDLTR, FDOTrian to vote 7.34% stake in favor of Family Dollar buyout
Nelson Peltz's Trian Fund disclosed a voting agreement whereby it will vote its 7.34% Family Dollar stake in favor of Dollar Tree's (DLTR) buyout at $74.50 per share in cash and stock. A Trian spokeswoman told Reuters the fund "strongly" believes the merger represents the "best path forward" for Family Dollar.
08:59 EDTFDO, DLTRDollar Tree says store closures not a part of syngergy expectations at this time
Subscribe for More Information
08:52 EDTFDO, DLTRDollar Tree says sees compelling growth opportunities in discount retail space
Says deal will be 80% cash, 20% shares. Says acquisition synergies "significant and achievable." Says acquisition is "transformational." Family Dollar (FDO) says combination with Dollar Tree (DLTR) in the best interests of shareholders. Dollar Tree says will open new stores for both chains. Expects to generate significant free cash flow, pay down debt. Sees compelling growth opportunities in discount retail space. Comments made on Dollar Tree's conference call discussing its merger agreement to acquire Family Dollar.
08:25 EDTFDO, DLTRFamily Dollar Stores volatility expected to move on Dollar Tree acquiring
Subscribe for More Information
08:07 EDTDLTR, FDODollar Tree volatility expected to move on acquiring Family Dollar for $8.5B
Dollar Tree (DLTR) volatility is expected to move on acquiring Family Dollar Stores (FDO) for $74.50 per share. Overall option implied volatility of 21 is near its 26-week average of 22 according to Track Data, suggesting non-directional price movement.
07:12 EDTDLTR, FDODollar Tree says CEO Bob Sasser to serve as CEO of combined company
Dollar Tree (DLTR) says Family Dollar (FDO) deal expected to be low to mid single digit percentage accretive to cash EPS in first financial year after close. Sees approximately $300M of annual run rate synergies to be achieved by third year post-closing. Says one time costs to achieve synergies of approximately $300M. Says Dollar Tree CEO Bob Sasser will serve as CEO of combined company. Says Family Dollar CEO Howard Levine to report to Sasser. Comments from slides that will be presented on Dollar Tree's conference call discussing its merger agreement to acquire Family Dollar.
06:43 EDTFDO, DLTRDollar Tree to host conference call
Subscribe for More Information
06:12 EDTDLTR, FDODollar Tree to acquire Family Dollar for $74.50 per share in cash, stock
Subscribe for More Information
06:07 EDTDLTR, FDODollar Tree to acquire Family Dollar for $74.50 per share in cash, stock
Subscribe for More Information
July 21, 2014
16:00 EDTDGOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
13:23 EDTDGHigh option volume stocks: RFMD LCI MR PII DG CTRL
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use