Hedge fund Bids for Family Dollar
March 18, 2011-- Home Textiles Today,
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.