10 Stocks Outperform Broader Market on Wednesday

7. DollarTree Inc. (NASDAQ:DLTR)

DollarTree saw its share prices grow by 3.08 percent on Wednesday to close at $69.21 apiece as investors cheered news that it was officially divesting its struggling Family Dollar unit for roughly $1 billion, an 88-percent discount from the $8.5 billion it allocated in 2015 to acquire the business.

In a statement, DLTR said it reached an agreement with Brigade Capital Management and Macellum Capital Management to acquire Family Dollar, which it believed would best unlock value for DLTR shareholders and position the for-sale unit for future success.

“Under the experienced, dynamic leadership of Family Dollar President Jason Nordin, and with the financial support of Brigade and Macellum, Family Dollar will be well-positioned for growth as a private company. With the support of a dedicated team, Family Dollar will be able to strengthen its commitment to providing affordable and essential goods to customers so they can do more with less,” said DLTR CEO Mike Creedon.

The transaction is expected to close in the second quarter of the year.