Report: CVS, Dollar General and Walgreens each approached to bid on Fred's

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. 

 

 

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