This Discount Retailer is Up 17% on Takeover Chatter
The mergers and acquisitions news comes less than two months after Family Dollar Stores (NYSE:FDO) received a go-private buyout offer from Nelson Peltz’ hedge fund Trian Capital for $55-60 per share. If you were savvy enough to do some research on the sector after we gave you a watch list of stocks that were potential take-over targets, you’d be celebrating a big win with 99 Cents Only Stores (NYSE:NDN). (See “Sector Spotlight: Discount Retailers Become Acquisition Targets“)
This morning the US Census Bureau announced February Advanced Retail Trade Sales were up 0.9 percent from January 2011, and 9.5 percent above last year. So long as consumers don’t get too scared, discount retailers on the radar for more M&A in the months to come.