Activist Investor Nominates 7 To Family Dollar Board
Law360, Los Angeles (October 17, 2014, 9:39 PM EDT) -- Activist investor Elliott Advisors UK Ltd. said Friday it has nominated seven candidates to Family Dollar Stores Inc.'s board of directors and is pushing the company to sell to competitor Dollar General Corp. instead of a third discount retailer.
In a letter to Family Dollar's board and CEO Howard Levine, Elliott — which disclosed a 4.9 percent stake in the company — said that New Jersey-based Dollar General's bid was "clearly superior" to Dollar Tree Inc.'s and expressed concerns with the current board's expertise and independence.
Family Dollar spurned Dollar General's sweetened $9.1 billion all-cash offer last month, citing antitrust concerns,...
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