Icahn Takes Profits After Family Dollar Deal

Jul 30 2014 | 8:14am ET

If, as he hopes, another bidder drives up the price for discount retailer Family Dollar Stores, Carl Icahn won’t be reaping the full benefit.

The billionaire yesterday disclosed that he had cut his stake in Family Dollar to just over 6% from 9.4%. The move comes after Dollar Tree offered $8.5 billion for Family Dollar, less than two months after Icahn began agitating for a sale.

Icahn said this week that there were several other possible bidders for Family Dollar who might pay more for the company. But after earning an estimated $174 million profit in just seven weeks, Icahn said he decided “that better returns can be achieved by deploying capital elsewhere.”


In Depth

Steinbrugge: Will Hedge Funds Help or Hurt During the Next Market Correction?

Sep 7 2016 | 11:55pm ET

Most investors have become accustomed to quick rebounds when markets correct, but...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...