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.
Family Dollar Stores Inc . rejected a hostile takeover offer from Nelson Peltz’s Trian Fund Management LP, saying it “substantially” undervalues its business, and adopted a defense to discourage unsolicited offers.
Family Dollar Stores Inc. , which billionaire investor Nelson Peltz offered to buy for $7.7 billion, is the most likely to fail among 2011 deals, according to traders who profit from mergers and acquisitions.
Family Dollar Stores Inc. , the second-biggest dollar-store chain in the U.S., fell the most in more than two years in New York trading after its second-quarter forecast fell short of analysts’ projections.