Hedge fund Bids for Family Dollar

Home Textiles Today Staff -- Home Textiles Today, 3/18/2011 3:11:38 AM

Hedge fund firm Trian Group has come forward with a bid for Family Dollar Stores at $55 to $60 per share in cash.
     The company said the bid was unsolicited, but will be reviewed.
     In July, Trian disclosed it had taken ownership of 6.58% of Family Dollar's stock. Yesterday, the company announced in a filing with the SEC it now owns about 8%. It said it also offered Family Dollar chairman and ceo the opportunity to join the fund as an owning investor.