Hedge Fund Thinks Dollar Tree Is Too Cheap
Paul Hilal learned at the feet of Bill Ackman, and until recently those feet tended to get covered in excrement every time they waded into the retail space. No matter, for Hilal is showing that what he really learned from Ackman during his time at Pershing Square Capital Management was gaudy confidence.
Mantle Ridge has been speaking to investors about raising a special purpose vehicle to build a stake in discount retailer Dollar Tree Inc., according to people familiar with the matter.
The New York-based hedge fund has reached out to sovereign wealth funds and family offices regarding the potential vehicle…. It’s not clear what kind of changes Mantle Ridge may seek at the Chesapeake, Virginia-based company….
This wouldn’t be the first time Dollar Tree has been targeted by an activist. In 2019, Starboard Value took a stake in Dollar Tree, and called on the company to implement changes, including spinning off its Family Dollar business. It also nominated seven directors to the board before dropping its proxy fight.
Hedge Fund Mantle Ridge Considers Potential Activist Push at Dollar Tree [Bloomberg]
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