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
Sign up for a free trial to see the rest of the stories you've been missing.
October 24, 2014
17:17 EDTFDOHoward Levine reduces stake in Family Dollar to 7.78% from 8.17%
October 23, 2014
06:46 EDTDLTRDollar Tree removed from the short-term buy list at Deutsche Bank
Deutsche Bank removed Dollar Tree from the short-term buy list due to an automatic 6-month time demotion.
October 21, 2014
17:27 EDTFDO, DG, DLTRFamily Dollar certifies substantial compliance with FTC
Subscribe for More Information
October 20, 2014
08:31 EDTFDO, DLTRFamily Dollar sets Oct. 30 as record date for special meeting of stockholders
Family Dollar Stores (FDO) announced that October 30, 2014 has been established as the record date for determining stockholders entitled to receive notice of, and to vote at, the Special Meeting of Stockholders, at which stockholders will be asked to adopt the previously announced merger agreement, as amended, with Dollar Tree (DLTR).
October 17, 2014
17:36 EDTFDOFamily Dollar says will review Elliot notice on directors in due course
Subscribe for More Information
16:09 EDTDLTR, DG, FDOElliott Advisors expresses concerns over Family Dollar merger, nominates slate
Subscribe for More Information
10:00 EDTDLTR, DGOn The Fly: Analyst Initiation Summary
Subscribe for More Information
08:11 EDTDGDollar General initiated with a Buy at Stifel
Subscribe for More Information
08:11 EDTDLTRDollar Tree initiated with a Buy at Stifel
Subscribe for More Information
October 16, 2014
07:04 EDTDGDollar General to build new distribution center in San Antonio, TX
Subscribe for More Information
06:27 EDTDLTRDollar Tree accumulates $866,000 in fines in last year, WSJ reports
Subscribe for More Information
October 15, 2014
11:27 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INO ATLS LOCO OPK INFY EUO FDO
October 13, 2014
12:01 EDTFDOOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY

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