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Family Dollar is an American variety store chain. With over 8,000 locations in all states except Alaska, Hawaii, Oregon and Washington, it is the second largest retailer of its type in the United States. Family Dollar was headquartered in Matthews, a suburb of Charlotte, North Carolina, until it was acquired by Dollar Tree and headquarters operations were moved to Chesapeake, Virginia. In June 2014, activist investor and major shareholder Carl Icahn demanded that Family Dollar be immediately put up for sale. On July 28, 2014, Dollar Tree announced that it would buy Family Dollar for $8.5 billion. The sale delivered a windfall to the company's biggest shareholder Carl Icahn, who acquired his 9.4 percent stake in June 2014. On January 22, 2015, Family Dollar shareholders approved the Dollar Tree bid. On March 6, 2019, the retailer announced that it will close up to 400 stores nationwide due to heavy pressure from an activist investor.