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  "documentTitle": "Dollar Tree, Inc. (DLTR)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
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  "presentationDate": "2019-01-07 00:00:00",
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  "notes": "The slide argues that the Family Dollar acquisition is a distraction and suggests strategic alternatives, including a potential sale.",
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      "text": "Since closing the acquisition of Family Dollar on July 6, 2015, Dollar Tree has underperformed Dollar General by more than 20%.",
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      "text": "Line chart showing stock performance of DLTR, DG, FIVE, TSX:DOL, and S&P 500 from July 2015 to January 2019.",
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      "text": "stock price performance: 16%",
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      "text": "From industry leader to industry laggard. Unfortunately, Dollar Tree significantly overpaid for Family Dollar, and this business is proving to be a meaningful distraction.",
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      "text": "We believe Dollar Tree is deeply undervalued... Dollar Tree should explore all strategic alternatives for Family Dollar, including a sale of the business.",
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      "text": "Since closing the acquisition of Family Dollar on July 6, 2015, Dollar Tree has underperformed Dollar General by more than 20%. Over this same time period, the broader market has appreciated by more than 30%.",
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      "kind": "source-note",
      "text": "Source: Capital IQ. Market data as of January 4, 2019.",
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      "text": "Stock Price Performance Since the Family Dollar Acquisition Closed",
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