Family Dollar Stores And Dollar General Up Amid Delay In Shareholder Vote

Shares of Family Dollar Stores, Inc. FDO and Dollar General Corp. DG popped higher amid news that Family Dollar may not have enough shareholder votes to approve a sale to Dollar Tree.

The Charlotte Observer tweeted:

According to the Charlotte Observer, “Matthews-based Family Dollar is trying to be acquired by Virginia-based Dollar Tree for $8.5 billion in cash and stock, even as it fends off a hostile, $9.1 billion all-cash bid by Tennessee-based rival Dollar General.

“The [shareholder] meeting is now scheduled to resume on Jan. 22 at the Mint Museum Randolph in Charlotte. The adjournment proposal, which had been expected, was approved by a vote of approximately 72 million shares to 15 million shares, the retailer said.”

Dollar General Corp. recently traded at $69.37, up 1.03 percent.

Family Dollar Stores, Inc. recently traded at $79.30, up 0.24 percent.