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Dollar Tree Strikes Back at Activist, Saying It Has No New Ideas

  • Retailer’s board ‘disappointed’ with Mantle Ridge’s pursuit
  • Investor with 5.7% stake is seeking to replace all directors
Inside Dollar Tree Store Locations Ahead Of Earnings Figures
Photographer: Daniel Acker/Bloomberg

Dollar Tree Inc. struck back Sunday at the activist investor seeking to replace its entire board, contending Mantle Ridge has brought no new ideas to the table and refused to engage constructively with the company.

The board said it was “disappointed” that Mantle Ridge chose to proceed in “an unwarrantedly aggressive and hostile manner,” according to a statement. Dollar Tree said it met with representatives from the firm on Dec. 2 to hear their ideas, and heard few other than demands that it should appoint former Dollar General Corp. Chairman Richard Dreiling as executive chairman.