MW: Dollar chains up; 99 Cents said to get Apollo bid
By Andria Cheng
NEW YORK (MarketWatch) -- Retail stocks rose on Friday, led by dollar store chains, after the New York Post, without identifying where it got the information, said that private-equity firm Apollo Management is expected soon to bid $22 to $24 a share for 99 Cents Only Stores NDN +10.75% . The discounter's shares surged 11% to $21 on the news. Shares of its larger rival, Dollar General Corp. DG +1.74% , rose 1.5%. Family Dollar Stores Inc. FDO +3.56% shares climbed 4.3%. Dollar Tree Inc. DLTR +0.64% shares, whose stock already jumped 35% this year, rose less than 1%.
