Nelson Peltz Offers To Acquire Family Dollar Stores (FDO) For $55-$60/Share
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In an amended 13D filing on Family Dollar Stores Inc. (NYSE: FDO) after the close of trading Tuesday, 8% shareholder Nelson Peltz disclosed that on February 15, 2011 his Trian Group contacted CEO Howard Levine offering to acquire the company for $55 to $60 per Share in cash.
The Trian Group also offered Mr. Levine the opportunity to participate as an investor alongside the Trian Group.
The Trian Group urged Mr. Levine to have the Issuer's Board of Directors form a committee of independent directors to consider the Trian Group's proposal.
Shares of Family Dollar Stores have rocketed 30 percent higher in after-hours action on the news.
The Trian Group also offered Mr. Levine the opportunity to participate as an investor alongside the Trian Group.
The Trian Group urged Mr. Levine to have the Issuer's Board of Directors form a committee of independent directors to consider the Trian Group's proposal.
Shares of Family Dollar Stores have rocketed 30 percent higher in after-hours action on the news.
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