Trian Group has asked Family Dollar Stores Inc (FDO.N) to remove the anti-takeover "poison pill" the retailer's board recently adopted and said it could quickly line up billions of dollars to buy the company. Family Dollar adopted a shareholder rights plan on March 3, a few weeks after billionaire investor Nelson Peltz's Trian Group offered to buy Family Dollar for $55 to $60 per share in cash. The board has rejected Trian's $7 billion offer, saying it "substantially undervalues" Family Dollar. The plan floods the market with shares if any one investor acquires a 10 percent stake, making a takeover difficult and costly. [ID:nN15231945]
Source
