Dollar Tree Shares Rise After Activist Investor Takes a Stake, Makes Nominations for the Board - MarketWatch -BoardProspects

Dollar Tree Shares Rise After Activist Investor Takes a Stake, Makes Nominations for the Board

MarketWatch Jan 7 2019 BoardNews

Dollar Tree Inc. DLTR, +2.35% shares rose 3.2% in Monday premarket trading after Starboard Value LP announced its nominations for the retailer's board. Starboard has taken a 1.7% stake in Dollar Tree, valued at about $370 million, and is seeking a majority stake in the 12-person board, according to The Wall Street Journal...
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Quotes
1. While we appreciate Starboard's investment and will evaluate any suggestions they may have as we would with any investor, we note that Starboard's nominations for a majority of the board were made without seeking any engagement or making any communication to the Company.
2. We believe that the company will be very resistant to both of these proposals.
3. We agree that the market is undervaluing the overall company and that Family Dollar's underperformance is the primary reason.
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- Tonya Garcia