Nelson Peltz’s Trian Fund takes another shot at Family Dollar Stores
|March 16th, 2011||
|Trian Fund Management LP has its acquisition sights trained on Family Dollar Stores Inc (NYSE: FDO).|
Bloomberg reports that in mid February, Trian Group offered to buy out publicly-traded Family Dollar Stores for between $55 and $60 per share, valuing Family Dollar at approximately $7.7 billion. Trian’s bid, however, was rejected by Family Dollar as undervalued relative to the business’s true worth. For the quarter ended February 2010, Family Dollar reported earnings of 98 cents per share, well above expectations of 92 to 97 cents.
Trian Group, which is led by Nelson Peltz, has asked Family Dollar to reconsider its bid. Family Dollar shares meanwhile have gained in anticipation of a takeover.
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