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Family Dollar receives buyout offer from NY hedge fund

A New York hedge fund manager has presented Matthews-based Family Dollar Stores with an unsolicited buyout offer.

Train Group is offering to buy the company for $55 to $60 a share.

Family Dollar said it “will review the proposal in due course.”

Family Dollar began in Charlotte with one store in 1959. The Fortune 500 company operates more than 6,800 stores in 44 states.

Train, based at 280 Park Ave., was founded by CEO Nelson Peltz, President Peter May and Vice Chairman Ed Garden in November 2005.

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