Carl Icahn Takes a Stake in Dollar Tree Inc.

Shares of Dollar Tree were on the rise after it was revealed that Carl Icahn has taken a stake in the company.

Shares of the discount retail company saw a 7% jump on the news. According to a report in The New York Post, Icahn has taken a “significant” stake in the company.

Icahn had a stake in Family Dollar as well which Dollar Tree acquired roughly four years ago. At the time Dollar Tree paid $8.5 billion for the company and Icahn’s firm reportedly made a profit of about $200 million from the deal.

It was last week that Dollar Tree also announced that it has plans to hire 25,000 associates in a nationwide hiring event scheduled for this Wednesday.

“I am so proud of the progress we are making within our Dollar Tree and Family Dollar brands on developing and retaining engaged associates as we continue to invest in our talent,” stated Chief Human Resources Officer Betty Click.

Disclaimer: We have no position in Dollar Tree, Inc. (NASDAQ: DLTR) and have not been compensated for this article.