Ackman takes “passive” stake in Family Dollar
New York — Bill Ackman, the founder of Pershing Square Capital Management, has taken a “passive” stake in Family Dollar Stores, Bloomberg reported. Ackman, speaking at the Ira Sohn Conference in New York, said he invested in Family Dollar Stores because it’s “very reasonably priced” and may be acquired.
“It’s a good business, it’s done very well for a long time,” he said, according to the report. “It’s an attractive LBO transaction.”
In March, Family Dollar rejected a takeover offer from Nelson Peltz’s Trian Fund Management LP in March, saying it “substantially” undervalues its business, and adopted a defense to discourage unsolicited offers.