Activist investor William Ackman and his hedge fund, Pershing Square Capital Management, has increased its stake in US discounter Family Dollar Stores.
The retailer said in an SEC filing yesterday (9 June) that Ackman and Pershing Square now hold a 8.9% stake in the retailer. The group previously held 4.7% of shares.
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In March, Family Dollar rejected a takeover bid from the Trian Group, the hedge fund run by US activist investor Nelson Peltz.
As of July last year, Trian Fund management held a 6.6% stake in Family Dollar Stores.
Shares in Family Dollar were up 0.8% to US$52.61 a share at 12:04 EST today.
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