(Reuters) - Billionaire activist investor Carl Icahn is accumulating a significant stake in discount chain Dollar Tree Inc, 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 previous foray into the discount retailing industry resulted in the sale of Family Dollar to Dollar Tree 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)
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Updated Date: Oct 17, 2018 00:05 AM