Trian Makes Offer for Family Dollar
February 16, 2011,
MATTHEWS, N.C.-Trian Group has offered to acquire Family Dollar in a deal that could cost the investor fund between $7 billion and $7.6 billion, according to a filing with the U.S. Securities and Exchange Commission.
Trian--which is led by Nelson Peltz, Peter May and Edward Garden--currently holds about eight percent of the retailer's outstanding shares, and said in the filing that it believes it has the biggest holding of any of the shareholders. The fund also said it has offered Howard Levine, Family Dollar's chairman and chief executive officer, the opportunity to participate in the acquisition.
In a statement acknowledging the Trian offer, Family Dollar said its board will review the proposal with its financial and legal advisers. It did not give a timetable for a final decision.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.