The Lowdown on Family Dollar Stores (FDO)/Nelson Peltz News
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The gist of the Family Dollar Stores Inc. (NYSE: FDO) news is that instead of pursuing an acquisition of the company, Nelson Peltz's Trian hedge fund is taking a seat on the board (Edward Garden).
In February 2011, the Trian Group offered to acquire the company for $55 to $60 per Share in cash. In March 2011, the offer was rejected by the company.
No one really expected Peltz to follow-through with an acquisition.
The firm still owns 8.3% and believes the shares are "undervalued."
Shares of FDO are down 1.9 percent in pre-open action Thursday.
In February 2011, the Trian Group offered to acquire the company for $55 to $60 per Share in cash. In March 2011, the offer was rejected by the company.
No one really expected Peltz to follow-through with an acquisition.
The firm still owns 8.3% and believes the shares are "undervalued."
Shares of FDO are down 1.9 percent in pre-open action Thursday.
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