Family Dollar is telling shareholders to reject the $9.1 billion takeover bid by rival Dollar General.» Read More
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's $8.95 billion acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
Dollar Tree reported a 2.6 percent fall in quarterly profit as costs increased.
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
Aug 21- Dollar Tree Inc reported a 2.6 percent fall in quarterly profit as costs increased. Net income fell to $121.5 million, or 59 cents per share, in the second quarter ended Aug. 2 from $124.7 million, or $1.25 per share, a year earlier. Dollar Tree, which operates the Dollar Tree, Deal$ and Dollar Bills stores, agreed to buy Family Dollar Stores Inc in July.
Billionaire investor Carl Icahn revealed he owns an 8.5 percent stake in Hertz and plans to pressure the rental car company's management.
Aug 21- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc..
Aug 20- Dollar General Corp said it had expressed an interest in merging with Family Dollar Stores Inc as early as June this year, but did not go ahead with an offer at that time as Family Dollar chief executive gave no indication that the company was in talks with Dollar Tree Inc.
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.
Icahn has pushed Family Dollar to sell itself to Dollar General and has been openly critical of Family Dollar Chief Executive Howard Levine, who would have retained his position after an acquisition by Dollar Tree.
Family Dollar wouldn't have been acquired without his prodding, activist investor Carl Icahn says.
Icahn Enterprises Chairman Carl Icahn, discusses the bidding war for Family Dollar, and Chief Executive Howard Levine's handling of the takeover bids. "This wasn't going to happen at this company if we hadn't appeared," he says.
Dollar General made a competing bid for Family Dollar on Monday trumping the offer by Dollar Tree. Icahn Enterprises Chairman Carl Icahn, says he had a friendly dinner with Family Dollar Chief Executive Howard Levine and some of his board, in which the company claimed Icahn is to blame Dollar General wasn't interested.
*Dollar General offers to buy Family Dollar. NEW YORK, Aug 18- U.S. stocks surged on Monday, with the Nasdaq closing at a 14- year high as increasing homebuilder confidence and hopes for receding tensions in Russia gave investors reasons to make bigger bets on the equity market.
NEW YORK, Aug 18- U.S. and European stock prices surged on Monday, taking a leading U.S. equities index to a 14- year high, as investors breathed easier over the Ukraine crisis and knocked oil prices to lows not seen in more than a year. Russia denied its forces had crossed into Ukraine.
Stocks rose on Monday as Ukraine and Russia talked about a potential truce and a round of M&A bolstered sentiment.
*Russia: Humanitarian convoy issue resolved, but no cease-fire. NEW YORK, Aug 18- U.S. stocks surged on Monday, with the Dow up roughly 1 percent and the Nasdaq at a 14- year high as increasing homebuilder confidence and hopes for receding tensions between Russia and Ukraine brightened investors' view of the outlook for equities.
Dollar General has officially offered to buy Family Dollar weeks after Dollar Tree made its surprise bid. CNBC's Courtney Reagan has all the details.
After the dollar store bids, CNBC's Dominic Chu looks at where other retail consolidation might be brewing.
Dollar General has officially offered to buy Family Dollar. CNBC's Courtney Reagan reports this deal is far from over.