Suitors clash on Family Dollar takeover bids
Dollar Tree and Dollar General issued separate statements criticizing each other’s plans to buy Family Dollar Stores while arguing their own bids move closer to FTC approval. Dollar Tree said the FTC may require divestiture of up to 500 stores, while Dollar General suggested it might need to divest more than 1,500 stores. Both say progress is being made and stress pricing could stay low through competition with Walmart. The vote to approve Dollar Tree’s 8.5 billion bid is set for December 23, with Family Dollar management backing that offer over Dollar General’s 9.1 billion proposal. The winner would create the largest U.S. discount chain by store count.
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U S trade deficit narrows on lower oil and higher exports
The Commerce Department reports the October trade gap fell 0.4 percent to 43.4 billion dollars. Imports rose 0.9 percent to a record 241 billion, while exports climbed 1.2 percent to 197.5 billion with new highs to Canada Mexico and China.
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