Skip to main content

Carl Icahn Not All Powerful, Just Pretty Good Investor, Discount Retailer Says

  • Author:
  • Updated:

Carl Icahn sounded pretty pleased with himself a couple weeks ago, after another company had bent to his will, and in rapid time. Uncle Carl deemed his seven-week, $175 million-profit-making investment in Family Dollar “yet another validation of the activist investment philosophy.”

Well, Family Dollar buyer Dollar Tree wants it known that it isn’t going to be pushed around by a 78-year-old bully, even if he learned how to throw a punch on a Queens schoolyard. It was totally going to buy Family Dollar months before Carl Icahn got involved. In fact, it should be thanking him for getting involved and keeping its price down.

The unnamed suitor, identified as Company A, was "reluctant to participate in the negotiation of a transaction with Family Dollar if Mr. Icahn were to have a role in or control over the process," the filing said. Dollar Tree had similar concerns but forged ahead, the filing said….

Dollar Tree and Family Dollar signed confidentiality pacts in April and were in talk over the price of a proposed buyout when Mr. Icahn disclosed his 9.4% stake in June, the filing said.

Carl Icahn Didn’t Drive Family Dollar Deal, Buyer Says [WSJ]


Carl Icahn Still Apple’s #1 Fan

If Apple doesn't hit $216/share, his name isn't Carl "King of the Queens Schoolyard" Icahn