Family Dollar Stores (FDO) Names Trian's Edward Garden to Board
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Family Dollar Stores, Inc. (NYSE: FDO) appointed Edward P. Garden, Chief Investment Officer and a founding partner of Trian Partners, as a director, effective immediately.
This will expand the board Family Dollar to 11.
"We are firmly committed to enhancing value for all Family Dollar stockholders and have always welcomed open dialogue with our shareholders," said Howard Levine, Chairman and CEO of Family Dollar. "We are pleased to appoint Ed Garden to the Family Dollar Board and look forward to working closely with him. Ed brings to Family Dollar the perspective of a major stockholder and years of experience investing in and working with consumer related companies. His expertise will be valuable to the Company as we continue to drive growth and further strengthen our business."
In February 2011, the Trian Group offered to acquire the company for $55 to $60 per Share in cash. In March, the offer was rejected.
Consistent with accepting the invitation to join the Board, the Trian Group withdrew its offer to acquire the Issuer. Trian continue to believe that the Shares are undervalued in the marketplace.
This will expand the board Family Dollar to 11.
"We are firmly committed to enhancing value for all Family Dollar stockholders and have always welcomed open dialogue with our shareholders," said Howard Levine, Chairman and CEO of Family Dollar. "We are pleased to appoint Ed Garden to the Family Dollar Board and look forward to working closely with him. Ed brings to Family Dollar the perspective of a major stockholder and years of experience investing in and working with consumer related companies. His expertise will be valuable to the Company as we continue to drive growth and further strengthen our business."
In February 2011, the Trian Group offered to acquire the company for $55 to $60 per Share in cash. In March, the offer was rejected.
Consistent with accepting the invitation to join the Board, the Trian Group withdrew its offer to acquire the Issuer. Trian continue to believe that the Shares are undervalued in the marketplace.
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