United States

Activist investor Carl Icahn backs out of Dollar Tree

A new activist investor is looking to shake up the board at Dollar Tree — but another has quietly cashed in his chips. Billionaire Carl Icahn — who took a stake of nearly 2 percent in the dollar-store chain last fall, according to sources — is no longer invested in the retailer, The Post has learned. The news comes as activist hedgie Jeff Smith of Starboard Value disclosed a 1.7 percent stake worth $370 million in Dollar Tree on Monday. Smith is prodding the company to sell its Family Dollar chain and rethink a strict policy of selling everything for $1 or less. Starboard’s stake was revealed three months after The Post exclusively reported that Icahn held stock. At the time, Icahn “thought it was dirt cheap … and a poorl ...