Dive Brief:

• Carl Icahn is stepping up the pressure for a sale of discount retailer Family Dollar with a June 19 letter he sent to CEO Howard Levine -- and tweeted out --  two weeks after the company’s board adopted a poison pill with a trigger of 10%. Icahn had revealed a 9.4% stake in the company.

• In the letter pressuring Levine regarding a sale, Icahn touts perfect timing for the move, citing favorable interest rates and the healthy stock market, and says consolidation in the discount retail space is “inevitable.”

• In his letter, Icahn also noted that Levine had resisted his overture in a recent meeting and requested nominations to the board. Family Dollar has also released a statement in response noting that it is conducting a business review and continuing work on a turnaround.

Dive Insight:

Usually activist investors like Icahn have one major motivating factor when they attempt to shake up a company — profit. But complicating matters in this case is Family Dollar’s performance, which some observers say hasn't received adequate attention or response.