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Stock Market & Financial Investment News

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November 13, 2012
04:55 EDTVSI, VSI, VSI, TUP, TUP, TUP, VFC, VFC, VFC, ENR, ENR, ENR, MJN, MJN, MJN, RAD, RAD, RAD, BEAM, BEAM, BEAM, LO, LO, LO, FDO, FDO, FDO, GNC, GNC, GNC, IFF, IFF, IFF, BUD, BUD, BUDJP Morgan to host a conference
Global Consumer & Retail Conference is being held in New York on November 13-15.
News For VSI;IFF;GNC;FDO;LO;BEAM;RAD;MJN;ENR;VFC;TUP;BUD From The Last 14 Days
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September 10, 2014
06:19 EDTFDODollar General commences tender offer to acquire Family Dollar for $80/share
Dollar General (DG) announced that it has commenced a tender offer to acquire all outstanding shares of Family Dollar Stores (FDO) for $80.00 per share in cash. The offer is scheduled to expire at 5:00 p.m., New York City time, on October 8, 2014, unless the offer is extended. The full terms, conditions and other details of the tender offer are set forth in the offering documents that Dollar General will file today with the SEC. Dollar General also will promptly file for clearance under the Hart-Scott-Rodino Act, which will allow the company to begin the antitrust approval process with the FTC. Dollar General’s all-cash offer of $80.00 per share provides Family Dollar shareholders with a "superior valuation" to the $74.50 per share cash / stock offer announced by Dollar Tree (DLTR) on July 28, 2014. Dollar General’s offer provides Family Dollar’s shareholders with approximately $640M of additional aggregate value over Dollar Tree’s offer. As part of a definitive merger agreement with Family Dollar, Dollar General would be willing to agree to divest up to 1,500 stores if required by the FTC and to pay Family Dollar a $500M reverse break-up fee if the transaction did not close for reasons related to antitrust approvals.
06:01 EDTFDODollar General commences tender offer to acquire Family Dollar for $80/share
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September 9, 2014
10:27 EDTBUDMolson slips after BTIG views speculated M&A as unlikely
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10:10 EDTBUDOn the Fly: Analyst Downgrade Summary
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08:35 EDTBUDAB InBev downgraded to Neutral from Buy at BTIG
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08:33 EDTFDODollar Tree, Family Dollar receive second request from FTC under HSR Act
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September 5, 2014
16:45 EDTFDOMarket ends week little changed after mixed economic data
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13:01 EDTFDODollar General 'remains committed' to acquiring Family Dollar
In response to the decision by the Board of Directors of Family Dollar Stores (FDO) to reject Dollar General’s (DG) enhanced all-cash proposal to acquire all outstanding shares of Family Dollar for $80.00 per share, Dollar General stated that it remains committed to acquiring Family Dollar and is currently evaluating its next steps.
08:34 EDTFDODollar Tree to divest as many stores as required for antitrust approval
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08:33 EDTFDOFamily Dollar reaffirms support of transaction with Dollar Tree
08:32 EDTFDODollar Tree commits to divest as many stores as required for antitrust approval
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08:31 EDTFDOFamily Dollar rejects revised Dollar General offer due to antitrust issues
Family Dollar Stores (FDO) that its Board of Directors has unanimously rejected the revised, non-binding proposal made by Dollar General Corporation (DG) on September 2 on the basis of antitrust regulatory considerations. Family Dollar’s merger agreement with Dollar Tree (DLTR) contains a customary provision that permits Family Dollar to enter into discussions and share information with any competing bidder, but only if the Board is able to determine that failure to do so would be inconsistent with its fiduciary duties and that the unsolicited, written proposal from the competing bidder would be reasonably expected to lead to a proposal that is not only financially superior, but also “reasonably likely to be completed on the terms proposed.” Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s revised proposal and unanimously concluded that it is not reasonably likely to be completed on the terms proposed. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s revised proposal and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:30 EDTFDOFamily Dollar rejects revised Dollar General offer due to antitrust issues
06:27 EDTFDONew Dollar General offer might not woo Family Dollar, Reuters says
Dollar General's (DG) improved bid to purchase Family Dollar (FDO) for $9.1B might not be able to reduce its smaller competitors worries that U.S. antitrust regulators will hinder the agreement from transpiring, according to Reuters, citing two sources familiar with the matter. Family Dollar is already in the throes of an agreement to sell itself for $8.5B to Dollar Tree (DLTR). Reference Link
September 4, 2014
10:02 EDTBUDRyder announces partnership with Anheuser-Busch
Ryder System (R) announced that it is partnering with Anheuser-Busch (BUD) to replace the beer company’s 66 diesel tractor fleet in Houston with Compressed Natural Gas powered engines. Anheuser-Busch added an environmental goal to reduce carbon emissions in its logistics operations from network planning, transportation, and warehousing by 15% by the end of 2017. Once fully installed, the company estimates it will secure significant savings.
08:31 EDTRADRite Aid reports August SSS up 3.9%
For the five weeks ended Aug. 30, 2014, same store sales increased 3.9% over the prior-year period. August front-end same store sales increased 1.1%. Pharmacy same store sales, which included an approximate 219 basis points negative impact from new generic introductions, increased 5.2%. Prescription count at comparable stores increased 3.7%over the prior-year period. Total drugstore sales for the five-week period increased 3.7% to $2.515B compared to $2.425B for the same period last year. Prescription sales accounted for 69.3% of drugstore sales, and third party prescription sales represented 97.5% of pharmacy sales. Same store sales for the 13-week period ended Aug. 30, 2014 increased 4.1% over the prior-year period. Front-end same store sales increased 1.1% while pharmacy same store sales increased 5.6 percent. Prescription count at comparable stores increased 3.7% over the prior-year period.
06:03 EDTRADStocks with implied volatility movement; WAG RAD
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September 3, 2014
16:22 EDTLOLorillard subsidiaries sue Zippo in the UK
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14:49 EDTFDOIchan exits Family Dollar position with $200M profit, Reuters says
Carl Icahn, who became Family Dollar's largest shareholder just this June, has now sold his entire stake for a profit of about $200M, according to Reuters, citing sources familiar with the matter. Reference Link
14:33 EDTFDOIcahn sold entire Family Dollar stake, Reuters says
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