Family Dollar adopts poison pill

Family Dollar adopted a one-year defensive shareholder rights plan known as a “poison pill” on Monday to boost its fortifications against any unwelcome, or hostile, takeover attempts.

According to Fox Business, the strategy comes two days after investor Carl Icahn reported a 9.39 percent stake in the company and said he would consider pushing for a merger with rival Dollar General.

Shares climbed 14 percent to $69.06 on the news.

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