Dollar Tree spikes on report that Carl Icahn has taken a stake in the company

  • The report said Icahn had taken a "significant" stake in Dollar Tree but also noted his plans for the company were not exactly clear.
  • Dollar Tree's stock rose as much as 7.4 percent before closing 6.8 percent higher.
A shopper searches her purse outside a Dollar Tree store in Encinitas, Calif. 
Lenny Ignelzi | AP 
A shopper searches her purse outside a Dollar Tree store in Encinitas, Calif. 

Shares of discount retailer Dollar Tree jumped on Tuesday after The New York Post reported investor Carl Icahn had taken a stake in the company.

The report said Icahn had taken a "significant" stake in Dollar Tree, but also noted his plans for the company were not exactly clear. Icahn is an activist investor, known for pushing for changes at the company leadership level.

Dollar Tree's stock rose as much as 7.4 percent before closing 6.8 percent higher.

The Post's report comes about four years after Dollar Tree acquired Family Dollar, a company in which Icahn had a stake.

Icahn did not immediately respond to a request for comment. Dollar Tree could not be reached for comment.

Click here to read the Post's full report.

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