For what it’s worth

A hedge fund tries to buy Family Dollar, but the retailer says the price isn’t right and doesn’t want to ring it up.

Headquarters are in Matthews, the Charlotte suburb where it opened its first distribution center in 1974.

Family Dollar Stores Inc. touts low prices for its merchandise, but the business itself isn’t cheap. After its largest shareholder, New York-based Trian Fund Management LP, bid roughly $7.5 billion for it — more than 25% higher than its market price at the time — the board, which has strong North Carolina ties, rejected the offer in March, saying it “substantially undervalues the Company.” Directors also adopted a shareholder-rights plan, also known as a “poison pill,” to fend off takeover attempts. Howard Levine, CEO and son of the company founder, is the company’s largest individual shareholder, with a 7.5% stake. Family Dollar has benefitted from the heightened cost consciousness of U.S. consumers in hard times and plans to add 300 stores, and close 100, this fiscal year.

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