FILE PHOTO: A customer walks out of a Dollar Tree discount store in Austin, Texas, U.S., February 27, 2017. REUTERS/Mohammad Khursheed
(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 (DLTR.O) 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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