Activist investor Carl Icahn is urging discount retailer Family Dollar Stores Inc. to put itself up for sale immediately as its performance weakens and it faces mounting competition.
He is also urging that three of his representatives be added to Family Dollar's board. He made the case in a letter Thursday to Family Dollar's CEO Howard Levine published in a regulatory filing.
Earlier this month, Icahn disclosed he held a 9.4 percent stake in Family Dollar. In response, Family Dollar adopted a shareholder rights plan, or so-called "poison pill."