Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Icahn tells Family Dollar it must sell itself now
Activist investor Carl Icahn is urging discount retailer Family Dollar Stores Inc. to put itself up for sale immediately as its performance weakens and it faces mounting competition.
He is also urging that three of his representatives be added to Family Dollar's board. He made the case in a letter Thursday to Family Dollar's CEO Howard Levine published in a regulatory filing.
Earlier this month, Icahn disclosed he held a 9.4 percent stake in Family Dollar. In response, Family Dollar adopted a shareholder rights plan, or so-called "poison pill."
Through the close of regular-session trading Thursday, the Matthews, N.C. company's stock has gained 12.6 percent since Icahn's stake was first disclosed on June 6. It added another 2.6 percent in after-market trading Thursday.