Family Dollar Mulls Unsolicited $7B Cash Bid

Law360, New York (February 17, 2011, 1:34 PM EST) -- Family Dollar Stores Inc. has confirmed an unsolicited $7 billion cash offer from its largest shareholder, investor Nelson Peltz and his Trian Group hedge funds, saying that the company's board of directors and its legal and financial advisers will review the proposal "in due course."

According to U.S. Securities and Exchange Commission filings by Trian and Family Dollar, the Trian Group contacted Family Dollar Chairman and CEO Howard Levine on Tuesday with an offer to buy the company at a price of $55 to $60 per...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.