Dollar General, Family Dollar & Dollar Tree
The so-called dollar store bidding war is heating up. Dollar General upped its bid for Family Dollar to $80 a share and offered to divest some of its stores, if needed, so that the deal would be approved by regulators. Just last month, Family Dollar rejected Dollar General’s earlier bid saying it would stick with its deal to be acquired by Dollar Tree. Shares of all three chains were higher.
Another deal update: this one on the possible T-Mobile and Iliad merger. T-Mobile could receive an improved takeover bid from France’s Iliad. That company’s chief financial officer said it’s in talks with potential partners who could team up with the company on the bid. Shares of T-Mobile rose one percent to $30.43.
Norwegian Cruise Line
Norwegian Cruise Line is making a push into the luxury travel sector. It’s spending $3 billion to buy high-end Prestige Cruises from Apollo Global Management. The deal will give Norwegian Access to Prestige’s ships and big-ticket vacation packages to help it compete with rivals like Royal Caribbean. Shares of Norwegian cruised higher, up 11 percent to $36.99.
The software company Compuware climbed on news it will be acquired by the private equity firm Thoma Bravo in a deal valued at $2.5 billion. Compuware’s software is used by companies like Cisco Systems and Domino’s Pizza to manage complex applications. The stock popped 13 percent to close at $10.59.
1-800-Flowers is hoping you’ll want to send some gourmet food with those long stem roses. The company is buying Harry & David, known for its gift baskets of specialty foods, for more than $140 million. The online flower retailer saw its shares surge 16 percent to $5.98.
Nike & Under Armour
NBA MVP Kevin Durant is resigning a shoe deal with Nike, turning down advances from Under Armour. The 10-year deal could be worth $300 million or more. But Under Armour didn’t lose out in the endorsement battle, it turned around and signed Brazilian model Gisele Bundchen, wife of NFL star Tom Brady to a long-term contract. Shares of Nike edged up slightly to $79.28. Under Armour popped four percent to $71.13.