Jan 27 (Reuters) - Activist investor Nelson Peltz’s Trian Fund Management LP cut its stake in Family Dollar Stores Inc to 2.07 percent from 7.3 percent.
Trian Management sold about 6 million shares of the discount retailer, the hedge fund said in a regulatory filing on Tuesday. (1.usa.gov/1EolGvx)
Family Dollar’s shareholders approved an $8.5 billion deal last week to be bought by Dollar Tree Inc, scuppering a higher hostile offer from larger rival Dollar General Corp . (Reporting By Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)