Starboard Delivers Letter to Dollar Tree CEO and Board of Directors
Calls for an Exploration of All Strategic Alternatives for the Underperforming Family Dollar Business
Urges the Evaluation and Initiation of a Sophisticated Wide-Scale Market Test of a Multi-Price Point Strategy with a Few Select Price Points at Dollar Tree Bannered Stores
Has Nominated a Slate of Seven Highly-Qualified Director Candidates for Election at the Company's 2019 Annual Meeting
NEW YORK, Jan. 7, 2019 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), a significant shareholder of Dollar Tree, Inc. (NASDAQ: DLTR) ("Dollar Tree" or the "Company"), with an ownership interest of approximately 1.7% of the Company's outstanding shares, today announced that it has delivered a letter to Gary Philbin, Dollar Tree's President and Chief Executive Officer, with copies to Executive Chairman Bob Sasser and the Company's Board of Directors (the "Board").
The full text of Starboard's letter to the CEO and Board can be viewed at the following link:
About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Investor contacts:
Peter Feld, (212) 201-4878
Tom Cusack, (212) 201-4814
www.starboardvalue.com
SOURCE Starboard Value LP
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