Activist investor Icahn reduces Family Dollar holdings

Matthews, N.C. – Activist investor Carl Icahn, who had been pressuring Family Dollar to sell the company, has reduced his ownership stake in the company from 9.39% to 6.09%. In a regulatory filing, Icahn said that the capital he is removing from Family Dollar could produce better returns elsewhere, rather than waiting for the recently announced Dollar Tree-Family Dollar merger to close or another buyer to make an offer.

Icahn, 78, will net about $174 million in the stock sale. He has previously said that Dollar General would be the most logical buyer for Family Dollar, but so far Family Dollar has not publicly indicated it is considering an offer.

 

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