Dollar General said it remained committed to acquiring rival Family Dollar and reported a 7.5 percent rise in quarterly sales.» Read More
Aug 18- Discount retailer Dollar General Corp offered to buy Family Dollar Stores Inc for $78.50 per share in cash, trumping an offer by Dollar Tree Inc. The deal, at an enterprise value of $9.7 billion, was proposed in a letter to Family Dollar's board.
Aug 14- Top U.S. hedge fund managers did some shopping for shares of discount retailer Dollar General Corp and drug store operator Walgreen Co in the second quarter.
In this market, negative bets can cost you an arm and a leg.
Daniel Loeb's Third Point added 1 million shares of Dollar General, raising his stake by 33 percent, while Blue Ridge Capital, founded by Tiger Cub John Griffin, nearly doubled its stake in Walgreen when it bought 2.8 million shares.
Some of Tuesday's midday movers:
Retailers are getting creative to try to jump-start the consumer. Here are 13 of the latest tactics. Brian Sozzi gives them the thumbs up or thumbs down.
Aug 5- Discount retailer Dollar General Corp is considering a rival bid to Dollar Tree Inc' s $8.5 billion offer for Family Dollar Stores Inc, Bloomberg reported, citing people with knowledge of the matter. Dollar General shares were up 3 percent at $57.62 on the New York Stock Exchange on Tuesday.
Dollar General is mulling a bid for Family Dollar, which would challenge Dollar Tree's $8.5 billion takeover, Bloomberg reported.
Some of the names on the move ahead of the open.
*Keeps full-year adj profit forecast of $7- $7.25/ share. July 30- Energizer Holdings Inc said it intends to spin off by next July its struggling household products business, which includes Energizer and Eveready batteries.
Investors would hope they didn't sell the 13 S&P 500 stocks that have blasted 25% higher or more since May 1. USA Today reports.
July 29- Activist investor Carl Icahn cut his stake in Family Dollar Stores Inc, a day after the company agreed to be bought by rival discount chain Dollar Tree Inc for $8.5 billion. Icahn said he was "determined" to dispose part of his stake rather than wait for the deal to close or for higher offers to emerge.
Icahn cut his stake in Family Dollar Stores to 6.03% as of Tuesday from a previously reported stake of around 9.39%, according to a SEC filing.
*Company to beat Dollar General as top N. America discount chain. July 28- Dollar Tree Inc agreed to buy rival discount chain Family Dollar Stores Inc for $8.5 billion to fend off growing competition from Wal-Mart Stores Inc and fellow discounter Dollar General Corp..
*Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln. Dollar Tree Inc offered to buy rival discount chain Family Dollar Stores Inc for about $8.5 billion. Zillow Inc agreed to buy Trulia Inc for $3.5 billion in stock in a deal that would combine the two most popular U.S. real estate website operators Trulia's shares jumped 15.4 percent to $65.04.
If Dollar Tree and Family Dollar complete a merger, stores should improve markedly, which may raise concern for competitors.
*Russia stocks tumble again after new sanctions. Wall Street ended flat as the latest deal news offset losses following soft data on the housing market and services sector.
Stocks were little changed on Monday amid activity on the corporate-deal front.
*Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln. Dollar Tree Inc offered to buy rival discount chain Family Dollar Stores Inc for about $8.5 billion. The transaction, including debt, values Family Dollar at about $9.2 billion.
After news of the monster dollar-store merger, here's the thing no one seems to be talking about, says retail analyst Brian Sozzi.