(MATTHEWS) -- Family Dollar Stores, Inc. has confirmed that the Matthews-based discount retailer has received an unsolicited buyout offer from Trian Group.  The conditional proposal offers $55 to $60 per share.

Trian Group is a New York based hedge fund.  Family Dollar's Board of Directors, in consultation with its financial and legal advisors, will review the proposal.

Morgan Stanley & Co. Incorporated is acting as financial advisor to Family Dollar.