NEW YORK — Fred’s Super Dollar has visited CVS Caremark, Dollar General and Walgreens seeking bids for its Southeastern chain of discount stores, according to a report published Friday by Bloomberg News.
Buyout firms including Miami-based H.I.G. Capital also were contacted, the report added.
Shares of Fred's were up more than $1.50 to $19.60 in mid-afternoon trading. With 36.8 million shares outstanding, that places Fred's market value at a little over $720 million.
Citing estimates from MKM Partners and FBR, Fred's could sell for as high as $24 per share, or $883 million, Bloomberg reported.