According to a report from Reuters, Carl Icahn, Billionaire investor, has sold his entire stake in Family Dollar Stores, Inc. (NYSE:FDO) fetching a profit of $200 million with the deal. Icahn played a crucial role in pushing Family Dollar to sell itself after disclosing a 9.4% stake in the retailer store.

As per the report, Icahn held 3.61 percent shares of Family Dollar Stores, Inc. (NYSE:FDO), although there has not been any clarification about the timing of the deal. Icahn is known to reduce his stakes in Family Dollar Stores, Inc. (NYSE:FDO) after it accepted $8.5 billion acquisition offer from Dollar Tree Inc (NASDAQ:DLTR).

This trade will take some investor pressure off the retailer and the Icahn’s decision further indicated that he did not expect a better deal in future even with a bidding war between Dollar Tree Inc (NASDAQ:DLTR) and Dollar General Corp. (NYSE:DG). Dollar General Corp. (NYSE:DG) entered the bidding war after offering $9 billion for Family Dollar’s against the $8.5 billion bid of Dollar Tree Inc (NASDAQ:DLTR). Dollar General is willing to pay $80 per share in its latest offer for Family Dollar against $74.50 from Dollar Tree.

Dollar General has agreed to pay $500 million in reverse break-up fee for any anti-trust roadblocks. Further, the company would divest up to 1,500 stores to avoid any anti-monopoly allegations raised by the regulators.

Earlier, Carl Icahn criticized the management and CEO of Family Dollar Stores, Inc. (FDO) for not considering Dollar General Corp. (NYSE:DG)’s offer. He even criticized Family Dollar’s CEO, Levine, for working out of self-interest instead of working for the benefits of the shareholders. In an interview with Reuters last month, Icahn said, “This is a quintessential example and a reflection of what is wrong with corporate America.”

This article has been written by Prakash Pandey.