Icahn Buys Block of Family Dollar Shares
June 9, 2014,
NEW YORK-Investor Carl Icahn has purchased about 9.4 percent of Family Dollar's common stock through some of his affiliate companies.
According to a filing by Icahn with the U.S. Securities and Exchange Commission, the investor bought the shares "in the belief that they were undervalued." The filing went on to cite a number of similar situations with companies such as CVR Energy, Forest Laboratories, Chesapeake Energy, Biogen and other companies over the last two decades, "where (Icahn's) involvement helped to generate tremendous returns for all shareholders."
In a statement issued Friday, Family Dollar said, "The Family Dollar board of directors and management team are open to dialogue with all shareholders and welcome input toward the shared goal of enhancing value. As previously announced, we are taking steps to strengthen our value proposition, increase operational efficiencies and improve financial performance. We are committed to driving value for all Family Dollar shareholders and will continue to take actions to achieve this important objective."