Dollar Tree Offers Settlement to Activist Investors

In response to activist investor group Mantle Ridge’s attempts to take control of its board, Dollar Tree (Chesapeake, Va.) has offered to explore a settlement, reports U.S. News and World Report.

On Friday, Mantle Ridge nominated 11 directors to replace the full board and pressured the retailer to hire former Dollar General CEO Richard Dreiling. The investment firm owns 5.7 percent of Dollar Tree’s common stock.

Dollar Tree is reportedly ready to engage in constructive negotiations but stated that “handing control of the company” to Mantle Ridge is not in the best interests of the company or its shareholders and stakeholders.