Deals
Family Dollar Surges After Peltz’s Takeover Proposal
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Family Dollar Stores Inc. surged the most in more than 30 years in New York trading after investor Nelson Peltz offered to buy the retailer for as much as $7.6 billion, spurring speculation other suitors will follow.
Peltz’s New York-based Trian Fund Management LP is proposing a bid of $55 to $60 a share, according to a regulatory filing, or up to 36 percent more than yesterday’s closing price. The stock rose as much as 27 percent today.