Activist investor Carl Icahn cut his stake in Family Dollar Stores Inc, a day after the company agreed to be bought by rival discount chain Dollar Tree Inc for $8.5 billion. Icahn said he was "determined" to dispose part of his stake rather than wait for the deal to close or for higher offers to emerge.Icahn reported a 6.03 percent stake on Tuesday, down from about 9.39 percent that made him the largest shareholder. (1.usa.gov/1lT2Qz6 )
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR fell by 0.78% or $-0.43/share to $54.44. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2204440 shares of DLTR exchange hands on a given day and today's volume is recorded at 13010995.
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 1.64% or $-1.24/share to $74.50. In the past year, the shares have traded as low as $55.64 and as high as $76.82. On average, 2174870 shares of FDO exchange hands on a given day and today's volume is recorded at 7627265.
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