June 9, 2014 / 1:20 PM / 3 years ago

Family Dollar adopts poison pill after Icahn stake

June 9 (Reuters) - Family Dollar Stores Inc adopted a one-year poison pill with a trigger of 10 percent, two days after activist investor Carl Icahn reported a stake in the company.

Icahn reported a 9.39 percent stake in the company on Friday, making him its largest shareholder.

The rights plan is not designed to prevent an offer to acquire the company, but to allow its board "adequate time to consider any and all alternatives," the company said on Monday. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)

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