Hedge fund makes a play for Family Dollar
February 16, 2011,
Matthews, N.C. - Hedge fund firm Trian Group has come forward with a bid for Family Dollar Stores at $55 to $60 per share in cash.
The company said the bid was unsolicited, but will be reviewed.
In July, Trian disclosed it had taken ownership of 6.58% of Family Dollar's stock. Yesterday, the company announced in a filing with the SEC it now owns about 8%. It said it also offered Family Dollar chairman and ceo the opportunity to join the fund as an owning investor.
Related Content By Author
The Countdown to the ICON Honors Continues featuring Christophe Pourny