99 Cents (NDN) Receives $1.3B Proposal to Go Private (FDO) (DG)

Discount store operator 99 Cents Only Stores (NYSE: NDN) said Friday that it has received a proposal to take the company private from the founding family of the company and investment firm Leonard Green & Partners.

The offer of $19.09 per share for the company would value the company at roughly $1.3 billion.

The group interested in taking 99 Cents private includes Schiffer-Gold family, which owns about 33 percent of its outstanding stock.

The company has yet to evaluate the proposal and there is no guarantee of a definitive offer.

Shares of 99 cents are up 17 percent to $19.51 in early market movement on Friday. Other stocks in the sector are higher including:

Big Lots (NYSE: BIG) up 72 cents to $42.67
Family Dollar (NYSE: FDO) up 21 cents to $50.86
Dollar Tree (NASDAQ: DLTR) up 45 cents to $52.81
Dollar General (NYSE: DG) up 54 cents to $28.65

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