January 7, 2019 / 11:11 AM / a year ago

Starboard takes stake in Dollar Tree, seeks sale of Family Dollar

Jan 7 (Reuters) - Activist investor Starboard Value LP said on Monday that it has acquired a 1.7 percent stake in discount store operator Dollar Tree Inc and called for a sale of its underperforming Family Dollar business.

Starboard’s stake accounts for about $370 million in the retailer. The hedge fund also nominated a slate of seven director candidates for election at the company’s 2019 annual meeting, it said in a letter to Dollar Tree.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli

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