Carl Icahn Cuts Down Stake in Family Dollar Stores, Inc. (FDO)

The recent acquisition of Family Dollar Stores, Inc. (NYSE:FDO) by Dollar Tree, Inc. (NASDAQ:DLTR) in a cash and stock deal this week apparently has not pleased the billionaire activist investor, Carl Icahn. He was instrumental in putting pressure on Family Dollar Stores, Inc. (NYSE:FDO) to sell itself, though the company in its announcement mentioned that it was trying to find a suitable buyer even before Icahn made his thoughts public.

Icahn, who used to hold around 9.39% stake in Family Dollar Stores, Inc. (NYSE:FDO) has cut his exposure by nearly 35%, bringing his stake in the company down to around 6%.  Bertha Coombs reported this on CNBC, yesterday.

“We have got news on Carl Icahn reducing his stake in Family Dollar Stores, Inc. (NYSE:FDO). You will recall with the acquisition yesterday. His holdings were worth somewhere near 100 million in terms of the gain. He has reduced from 9.4% down to 6% in his latest 13D filing. Most, of course, Carl Icahn had pushed for a merger with Dollar General instead and he thought that would have been a better deal, but apparently he is going to take his capital now and deploy it better elsewhere, according to the filing,” Coombs said.

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