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.
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