Trian Group, a NY-based hedge fund, has urged Family Dollar Stores to reconsider the $7.6 billion acquisition offer that it made for the retailer last month; Family Dollar rejected the bid as undervaluing the company.
Trian, controlled by billionaire Nelson Peltz, currently controls about eight percent of Family Dollar’s stock.
While the letter to Family Dollar’s board says that Trian is not looking to make a hostile takeover, it does want the retailer - if it continues to resist an acquisition - to commit to raising its performance level, especially sales per square foot, to be the same as Dollar General’s.
Trian, controlled by billionaire Nelson Peltz, currently controls about eight percent of Family Dollar’s stock.
While the letter to Family Dollar’s board says that Trian is not looking to make a hostile takeover, it does want the retailer - if it continues to resist an acquisition - to commit to raising its performance level, especially sales per square foot, to be the same as Dollar General’s.
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