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Icahn cuts stake in Family Dollar
July 29, 2014 / 9:46 PM / 3 years ago

Icahn cuts stake in Family Dollar

July 29 (Reuters) - 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 )

Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila

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