Discount store chain Dollar Tree Inc said it expects to divest less than 300 stores to buy larger rival Family Dollar Stores Inc, and had already identified potential buyers.
Some 20 state attorneys general have joined the federal antitrust investigation of competing bids by Dollar General Corp (DG.N) and Dollar Tree Inc (DLTR.O) to buy Family Dollar Stores Inc (FDO.N), a development that potentially complicates the companies' efforts to win U.S. approval for a deal.
Activist investor Elliott Advisors UK Ltd nominated seven candidates for election to Family Dollar Stores Inc's (FDO.N) board as it looks to push for a sale of the dollar store operator to bigger rival Dollar General Corp (DG.N).
Family Dollar Stores Inc (FDO.N) said certain state attorney generals have notified the company that they will investigate larger rival Dollar General Corp's (DG.N) takeover bid over competitive concerns.
U.S. stocks ended higher on Friday, lifting the S&P 500 to a fresh closing high, after a weaker-than-expected jobs report was taken as a sign that the Federal Reserve will not begin raising interest rates anytime soon.
Billionaire investor Carl Icahn has sold his entire stake in Family Dollar Stores Inc (FDO.N), making a profit of about $200 million on the investment, according to sources familiar with the matter on Wednesday.
Dollar General Corp (DG.N) raised its bid for Family Dollar Stores Inc (FDO.N) to $9.1 billion, and warned it may turn hostile and appeal directly to shareholders if the new offer was rejected.
Dollar General Corp, the No.1 U.S. deep discount retailer, said it remained committed to acquiring rival Family Dollar Stores Inc and reported a 7.5 percent rise in quarterly sales.
Many large US retailers on Thursday dialed back their earnings forecasts because of steep discounts they offered during the holidays. Discounts boosted overall industry sales but hurt profits at many retail chains.