Activist investor Carl Icahn said in a letter to Family Dollar Stores Inc that the company be put up for sale immediately, according to a regulatory filing. Earlier this month, Family Dollar adopted a poison pill to purchase time to consider any possible deal that Icahn could push for after becoming its largest shareholder.Icahn also said in the filing that three or four of his representatives should be added to the company's board immediately. (reut.rs/1kSQ9mt)Icahn reported a 9.39 percent stake in Family Dollar in June and has said he was considering pushing the $6.89 billion company to merge with rival Dollar General Corp.
Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG traded higher by 0.15% or $0.09/share to $61.52. In the past year, the shares have traded as low as $49.47 and as high as $65.99. On average, 4812010 shares of DG exchange hands on a given day and today's volume is recorded at 2063525.
Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. Shares of FDO fell by 0.12% or $-0.08/share to $68.14. In the past year, the shares have traded as low as $55.64 and as high as $75.29. On average, 1860590 shares of FDO exchange hands on a given day and today's volume is recorded at 620828.
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