Fred's shopping itself to CVS, Walgreens, Dollar General, Bloomberg says

theflyonthewall.com

Fred’s (FRED), which has previously disclosed that it is exploring strategic opportunities including a potential sale, has contacted possible suitors including CVS Caremark (CVS), Walgreen (WAG) and Dollar General (DG) as well as private-equity firms, according to Bloomberg, citing people with knowledge of the matter. Note that on January 9, Fred's announced its board of directors has retained BofA Merrill Lynch and Peter J. Solomon Company to review strategic opportunities to enhance shareholder value. Shares of Fred's are up 8% to $19.55 in afternoon trading following Bloomberg's report.

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