Activist investor Carl Icahn is urging discount retailer Family Dollar Stores Inc. to put itself up for sale immediately, saying its performance is weakening and it faces mounting competition.
Icahn is also calling for three of his representatives to be added to Family Dollar’s board. He made the case in a letter Thursday to Family Dollar’s CEO Howard Levine published in a regulatory filing.
The company noted that members of its board and management recently met with Icahn. “And as we expressed in the meeting, we are always open to constructively communicating with our shareholders with the shared goal of enhancing value,” it said.