(Reuters) – Billionaire activist investor Carl Icahn is accumulating a significant stake in discount chain Dollar Tree Inc <DLTR.O>, the New York Post reported on Tuesday.
Icahn’s plans for the stake were not immediately clear, the report https://nypost.com/2018/10/16/carl-icahn-has-taken-a-stake-in-dollar-tree added.
Icahn’s previously foray into the discount retailing industry resulted in the sale of Family Dollar to Dollar General Corp <DG.N> in 2014. He was then Family Dollar’s largest shareholder.
Neither Icahn nor Dollar Tree responded to Reuters’ requests for comment.
Dollar Tree shares rose 5.4 percent to $85.30 on Tuesday morning following the news.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar)