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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:07 EDTFDOFamily Dollar volatility expected to move on Icahn disclosing 9.39% stake
Family Dollar volatility is expected to move on Icahn reporting a 9.39% stake. Overall option implied volatility of 26 is below its 26-week average of 30 according to Track Data, suggesting decreasing price movement.
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July 28, 2014
15:54 EDTFDODollar General rejected chance to bid on Family Dollar, Bloomberg reports
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14:45 EDTFDOFamily Dollar bid as high as $87 could make sense, Reuters says
The relatively low level of cost savings synergies identified by Family Dollar (FDO) and Dollar Tree (DLTR) may leave room for another suitor, such as Dollar General (DG), to step in with a higher bid that would still make financial sense, according to Reuters Breakingviews columnist Kevin Allison. If an alternate buyer could find $500M of annual savings, that would justify paying roughly $87 per share, or about double the current premium, for Family Dollar, Allison calculates. Reference Link
13:23 EDTFDOIcahn 'pleased' with Family Dollar deal, 'hopeful' alternate deal may surface
Carl Icahn released the following statement regarding Family Dollar Stores (FDO): "While we continue to believe there are a handful of potential buyers who could realize greater synergies through a combination with Family Dollar and are hopeful that one or more of them will surface as a result of todays announcement, we are extremely pleased with Dollar Trees (DLTR) intention to acquire Family Dollar in a transaction that values the company at $74.50 per share. This is a big win for all shareholders of Family Dollar and yet another validation of the activist investment philosophy in general." Another company in the space, Dollar General (DG), has previously been speculated as an alternative partner for Family Dollar and Wal-Mart (WMT) is seen as a competitor to dollar store operators.
12:21 EDTFDOOn The Fly: Midday Wrap
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11:39 EDTFDOWells says potential for competing Family Dollar bid an unknown
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10:24 EDTFDOFamily Dollar, Dollar Tree advance after agreeing to combine
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09:32 EDTFDODollar Tree says will pay down debt vs. buying back shares
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09:26 EDTFDODollar Tree says deal could close by early January 2015
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09:17 EDTFDOOn The Fly: Pre-market Movers
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09:10 EDTFDODollar Tree to benefit from Family Dollar deal, says Sterne Agee
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09:05 EDTFDODollar 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 EDTFDOTrian 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 EDTFDODollar Tree says store closures not a part of syngergy expectations at this time
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08:52 EDTFDODollar 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 EDTFDOFamily Dollar Stores volatility expected to move on Dollar Tree acquiring
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08:07 EDTFDODollar 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 EDTFDODollar 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 EDTFDODollar Tree to host conference call
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06:12 EDTFDODollar Tree to acquire Family Dollar for $74.50 per share in cash, stock
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06:07 EDTFDODollar Tree to acquire Family Dollar for $74.50 per share in cash, stock
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